Scaringe, 36, said Rivian wasn't in dire need of funds because backers led by Japan's Sumitomo Corp. and Saudi auto distributor Abdul Latif Jameel Ltd. are fully committed to seeing the company succeed.
According to a profile of the company's offerings on Electrek, the R1T is one of the most highly anticipated vehicles to be coming out in the years ahead. "Amazon is exploring ways to reinvent its delivery fleet, and Rivian's electric-powered skateboard concept, which could carry a variety of body styles, offers an interesting possibility".
"Beyond simply eliminating compromises that exist around performance, capability and efficiency, we are working to drive innovation across the entire customer experience", says Rivian CEO RJ Scaringe.
The two trucks share the same "architecture" and, at least initially, will feature 180 kilowatt-hour battery packs, nearly twice the size of the largest pack now offered by Tesla.
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Under Chinese law, firms are compelled to "support, co-operate with and collaborate in national intelligence work". The US likes to sanction others whenever there's an issue. "Firstly, I object to what the U.S. has done".
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Rivian's entry into the pickup truck market has drawn the eye of Wall Street. The company hopes to begin building the first customer cars by 2020 at a factory in IL. The move comes as something of a surprise - but perhaps less than it might have been just months ago. That company is developing autonomous vehicle technology.
Amazon is putting money into electric trucks. But how Rivian might play into that is uncertain.
Amazon's total investment was not disclosed in Rivian's announcement, but the company clarified with Green Car Reports that the online retailer and technology company "is a significant majority of this round". R.J. has built an impressive organization, with a product portfolio and technology to match.
Amazon also invested in Aurora, an autonomous vehicle start-up company, on February 7th.