Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Company

Amazon leads 700-mln-USD investment in electric truck startup

February 18, 2019


Abstract : U.S. online retailing giant Amazon is leading a 700-million-U.S.-dollar funding round for electric truck startup Rivian Automotive, Rivian said Friday.

SAN FRANCISCO, Feb. 15 (Xinhua) -- U.S. online retailing giant Amazon is leading a 700-million-U.S.-dollar funding round for electric truck startup Rivian Automotive, Rivian said Friday.

Rivian said the latest funds will help produce its first all-electric vehicles -- the R1T pickup truck and the seven-seat R1S SUV, which were revealed in the LA Auto Show, an international event for world automakers held in Los Angeles, Southern California last November.

"This investment is an important milestone for Rivian and the shift to sustainable mobility," said RJ Scaringe, Rivian founder and CEO.

"We are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible," he added.

Scaringe said Amazon's support will help his company's goal to improve electric vehicles' performance, capability, efficiency, as well as drive innovation to improve customer experience.

Rivian said it is expected to deliver its R1T electric pickup and R1S SUV to customers in late 2020.

The two vehicles will have up to more than 400 miles (about 644 km) of range with extraordinary performance, off-road capability and utility, said the auto company.

"We're inspired by Rivian's vision for the future of electric transportation," said Jeff Wilke, Amazon CEO Worldwide Consumer.

Rivian now employs more than 750 workers, with development centers in Michigan's Plymouth, San Jose and Irvine in California, and Surrey in Britain.

Last week, self-driving car startup Aurora announced that Amazon joined other investors like Sequoia and energy giant Shell to help it raise more than 530 million dollars in funding.

Scan the QR code and push it to your mobile phone

Keyword: emerging-industry Amazon

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial