The e-commerce giant said in an SEC filing that it had 20 per cent ownership interest in the California-based EV maker, which is manufacturing 100,000 Amazon delivery vans and is in the process of going public. (The Logic)
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The e-commerce giant said in an SEC filing that it had 20 per cent ownership interest in the California-based EV maker, which is manufacturing 100,000 Amazon delivery vans and is in the process of going public. (The Logic)
Talking point: Amazon’s EV plan appears to be taking on a pattern. The e-tailer also has a much more modest electric van order from Lion Electric, with the option to buy as much as 20 per cent of the Quebec-based company, as well. Amazon disclosed the US$3.8-billion stake in Rivian as part of its accounting of non-marketable equity investments and US$3.4 billion in equity warrants. Securing a stake in Rivian comes as Amazon is investing heavily in improving its logistics business, forgoing its profit margin to get ahead of supply chain bottlenecks. Recent data suggests Amazon surpassed FedEx to become the third-largest U.S. package courier amid its rapid expansion.
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