{"id":9263,"date":"2021-10-30T12:03:53","date_gmt":"2021-10-30T16:03:53","guid":{"rendered":"https:\/\/autosector.com\/auto\/?p=9263"},"modified":"2021-10-30T12:03:53","modified_gmt":"2021-10-30T16:03:53","slug":"amazon-holds-20percent-stake-rivian","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=9263","title":{"rendered":"Amazon Holds 20% Stake In Rivian"},"content":{"rendered":"

The recent Amazon<\/a>\u00a010-Q SEC filling reveals that, as of the end of Q3, the company owns about a fifth of Rivian<\/a> – the electric vehicle startup, known mostly for the Rivian R1T<\/a>\/Rivian R1S<\/a> models.<\/p>\n

Bloomberg<\/em><\/a> (via Teslarati<\/em><\/a>) reports that the Amazon’s stake is worth as much as $3.8 billion (it was $2.7 billion at the end of 2020):<\/p>\n

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“As of December 31, 2020 and September 30, 2021, equity investments not accounted for under the equity-method and without readily determinable fair values, including preferred stock of Rivian Automotive, Inc. representing an approximately 20% ownership interest, had a carrying value of $2.7 billion and $3.8 billion, and are recorded within \u201cOther assets\u201d on our consolidated balance sheets with adjustments recognized in \u201cOther income (expense), net\u201d on our consolidated statements of operations.” – 10-Q SEC filling<\/a><\/p>\n<\/blockquote>\n

The first $700 million was invested in early 2019. Capital is not the only thing that Amazon brings to Rivian, as the company is also a customer that placed an order for 100,000 all-electric Rivian Electric Delivery Vans (EDV)<\/a>.<\/p>\n

Series production of EDV is scheduled to start in December and should reach 10,000 units in 2022. The remaining 90,000 should be delivered to Amazon within a few years – by the end of 2025, which indicates 30,000 per year.<\/p>\n

Meanwhile, Rivian prepares for an IPO<\/a> with a hope to see a valuation of $80 billion. The company so far raised more than $10.5 billion (including the $2.5 billion round in July<\/a>) and besides Amazon, is backed also by Ford<\/a> (probably more than 5% stake, considering over $820 million investment).<\/p>\n

The first model, the R1T, entered production and is slowly ramping up<\/a>, while the R1S and EDV should follow in December.<\/p>\n

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