February 15, 2019 / 2:36 PM / 9 months ago

Rivian announces $700 mln funding round led by Amazon

Feb 15 (Reuters) - U.S. electric pickup truck manufacturer Rivian Automotive LLC on Friday announced an equity investment round of $700 million, led by Amazon.com Inc.

Reuters had reported on Tuesday that Amazon and General Motors Co were in talks to invest in Rivian in a deal that could value the company between $1 billion and $2 billion.

The investment comes on the heels of Rivian unveiling its all-electric R1T pickup and R1S SUV at the LA Auto Show last November, the company said.

Rivian declined to comment on its valuation. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by James Emmanuel)

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