Electric luxury electric vehicle company Rivian burst onto the scene last autumn after nearly a decade in stealth. And it’s high-end Rivian R1T pickup truck and R1S SUV have already gained a lot of attention, with customers all over the world putting down reservation deposits to get in line to own one.
Earlier this year, we heard a rumor that both Amazon and General Motors were looking to invest in the company. The Amazon rumor was quickly turned into reality with Amazon announcing a $700 million investment.
GM meanwhile, declined to comment on the potential investment — but now sources close to both companies say GM and Rivian won’t be looking into a shareholding deal after all.
Some may fear it’s bad news for Rivian or GM — but here’s why it’s okay for both companies that they won’t be joining forces for now.
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