US-based startup Rivian lands a $700 million funding round led by the tech conglomerate. The startup automaker plans to ship an electric pickup and SUV in late 2020.
Amazon continued its push into the transportation space on Friday with some big news: the company is leading a $700 million investment round in Rivian, a United States-based EV startup that’s working to launch an all-electric pickup truck and SUV in 2020. The announcement follows last week’s news that Amazon was part of a group that raised $530 million for Aurora Innovation, an autonomous vehicle startup led by the former head of Google’s self-driving car project.
Built on the same technological platform, Rivian claims its vehicles — which will start around $70,000 — will be able to travel up to around 400 miles on a single charge, hit 60 miles per hour in under three seconds, and eventually be able to drive themselves in some capacity. The company boasts a number of top ex-engineers and designers from McLaren, and it’s spent years developing a unique approach to building high-capacity battery packs.
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