Amazon leads $700mn investment in electric truck startup

17 February, 2019 12:00 AM printer

SAN FRANCISCO: U.S. online retailing giant Amazon is leading a 700-million-U.S.-dollar funding round for electric truck startup Rivian Automotive, Rivian said Friday.

Rivian said the latest funds will help produce its first all-electric vehicles -- the R1T pickup truck and the seven-seat R1S SUV, which were revealed in the LA Auto Show, an international event for world automakers held in Los Angeles, Southern California last November, reports Xinhua.

"This investment is an important milestone for Rivian and the shift to sustainable mobility," said RJ Scaringe, Rivian founder and CEO.

"We are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible," he added.