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RJ Scaringe, founder and CEO of Rivian Automotive Inc., presents R1T electric truck, left and R1S electric sports car (SUV) during a revealing event at AutoMobility LA in front of the Los Angeles Auto Show in Los Angeles, California.
Amazon and General Motors are negotiating to invest in Rivian Automotive in a deal that will appreciate the US electric car manufacturer between $ 1 billion and $ 2 billion, people told Reuters Tuesday.
The agreement would give Amazon and General Motors minority positions in Rivian, the sources said. It would be a big boost for Plymouth, Michigan-based startup, which aspires to be the first car manufacturer in the US market with an electric pickup.
If the negotiations conclude successfully, an agreement can be announced as early as this month, the sources said, and asked not to be identified because the case is confidential.
Amazon, General Motors and Rivian did not respond promptly to comment requests.
There was always a chance that contract negotiations would fall through, the sources notified.