Amazon holds a 20% stake in electric vehicle maker Rivian Automotive, it was announced on Friday.
Rivian filed its IPO prospectus earlier this month, revealing new details about how closely Amazon and Rivian are connected.
Amazon has contracted with Rivian to produce 100,000 electric vehicles for delivery by 2030.
Amazon on Friday announced a significant stake in Rivian Automotive, a startup that develops electric vehicles, including commercial vans of the retail giant.
As of Sept. 30, Amazon has held investments “including preferred shares of Rivian Automotive, Inc. representing approximately 20% of the equity interest” with a carrying amount of $ 3.8 billion, up from $ 2.7 billion on December 31, announced the company in an SEC submission.
Amazon has invested more than $ 1.3 billion in Rivian to date, Rivian said in a separate securities application earlier this month.
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Source: Nasdaq
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