Amazon’s Electric Vehicle Venture

On February 15, 2019, Amazon.com Inc, announced it was investing $700 million in Rivian, an electric vehicle (EV) start-up company. Amazon is a multinational technology company, headquartered in Seattle, Washington. The company’s core businesses include e-commerce, cloud computing and artificial intelligence.

Rivian was founded in 2009 and is headquartered in Plymouth, Michigan. Rivian is developing an EV pick-up truck and sport utility vehicle (SUV). The company has four development centers located in Plymouth, Michigan; San Jose, California; Irvine, California; and Surrey, England. Rivian also has 2,600,000 sq. ft. manufacturing plant in Normal, Illinois.

In the announcement, Jeff Wilke, Amazon CEO Worldwide Consumer stated “We’re inspired by Rivian’s vision for the future of electric transportation. RJ Scaringe, Rivian Founder and CEO stated, “This investment is an important milestone for Rivian and the shift to sustainable mobility.”

Rivian will remain an independent company following Amazon’s significant investment. In my opinion, Amazon is clearly focused on moving their e-commerce operations from internal combustion engine vehicles (ICEVs) to EVs. I also believe that Rivian is a direct threat to Tesla’s plans to expand into EV trucks and SUVs. In my opinion, Amazon is helping America accelerate the move from ICEVs to EVs.

www.jackkerfoot.com

Facebook Group: “Energy, Solutions or Catastrophe?”

Leave a Reply

Your email address will not be published. Required fields are marked *