GM and Amazon Reportedly to Invest in Rivian

Popstar Rihanna whose boyfriend Hassan Jameel is deputy vice chairman of Rivian investor Abdul Latif Jameel Co. attended the company's November launch event in Los Angeles

The rapid growth of Amazon's e-commerce business has put pressure on the company to expand capacity and reduce its reliance on its delivery partners that include United Parcel Service Inc., FedEx Corp. and the U.S. Postal Service.

According to sources talking with Reuters, the company may get an investment from two major companies, Amazon and General Motors, giving both minority stakes in the manufacturer.

GM now sells the battery-powered Chevrolet Bolt electric crossover and has promised to introduce 20 new all-electric models by 2023, so far confirming only that one of them will be a Cadillac utility vehicle. Negotiations are reportedly still taking place, but the sources claim we may hear an official announcement some time this month. As my old Irish grandmother was fond of saying, "There's many a slip twixt the cup and the lip".

"We admire Rivian's contribution to a future of zero emissions and an all-electric future", GM said in an emailed statement, declining to specifically comment on any talks with Rivian. Amazon and Rivian did not immediately respond to requests for comment from Reuters.

At the Los Angeles Auto Show in December, Rivian announced its intention to begin production in the fourth quarter of 2020. Big names such as GM and Amazon are already poised to dump boatloads of cash into the development of future electric platforms. Both are gigantic vehicles that could well appeal to affluent customers.

Aaron Paul to Star in 'Breaking Bad' Movie as Jesse Pinkman!
Deadline reports that "that the two networks may have their roles reversed, with Netflix taking first window and AMC second". Vince Gilligan will write and executive produce the project with collaborators Mark Johnson and Melissa Bernstein .

Spike Lee casts Chadwick Boseman in first film since Blakkklansman
Lee is working on the script with Kevin Wilmott, who was also a writer on the script for Lee's Oscar nominated BlacKkKlansman . In addition to directing and co-writing, Lee will also produce Da 5 Bloods with Beatriz Levin, Lloyd Levin and Jon Kilik.

Bebe Rexha scolds audience at 2019 Grammy event
You're saying that all the women in the world that are size 8 and up are not handsome , and they can not wear your dresses". The star reiterated her outrage in her caption, adding: "If you don't like my fashion style or my music that's one thing.

Tesla CEO Elon Musk told investors last August that an electric pickup is "probably my personal favourite for the next product" from the company, though he has spoken only in general about a potential launch, saying that it would happen "right after" Tesla's Model Y, which the company has targeted to start production in 2020.

It seems Workhorse is closest to having an electric truck ready for market. Being first to market could give Workhorse a significant advantage over the competition. Rivian has raised $450 million so far, including a $200 million debt round led by Standard Chartered Bank last May.

Rivian already boasts a $500 million stake from Abdul Latif Jameel, whose investments include the USA branch of Japan's Sumitomo Bank, and the Toyota distributorship in Saudi Arabia, Kitman reported.

Since this entire report is based on the information of one unnamed individual, it must be taken with a large pinch of salt. That in itself is reason enough for optimism about the inevitability of the electric transportation revolution.

Related News:

  • Red Bull launches Honda-powered RB15 in striking one-off livery

    Get the dedicated Sky Sports F1 channel - the exclusive home of all live F1 - for £18 a month in HD with no contract. The former champions were third overall in last season's constructors' championship, winning four races.
    Illegal Alien Confesses to Murder of New York Woman: 'We Are Devastated'

    Illegal Alien Confesses to Murder of New York Woman: 'We Are Devastated'

    Police say an arrest has been made in the slaying of a 24-year-old woman whose body was found stuffed inside a suitcase in CT . Autopsy results are pending in the case while a funeral for her has been scheduled for Wednesday, with a viewing on Tuesday.
    Almost half of world's insect species facing extinction, global study finds

    Almost half of world's insect species facing extinction, global study finds

    The researchers also note this is the first study of its kind to provide a global picture of insect decline. They maintain soil structure and fertility, pollinate plants and control insect and plant pests.
  • Company that promised one-way ticket to Mars goes bankrupt

    Company that promised one-way ticket to Mars goes bankrupt

    The company's most recent news update was an $13.5 million investment from Phoenix Enterprises AG in July 2018. The company promised to take wannabe astronauts to Mars to start the first human settlement on the Red Planet.
    Richard Gere becomes father at 69

    Richard Gere becomes father at 69

    Gere is also the father of Homer James Jigme, 19, with ex-wife Carey Lowell. Besides, Alejandra too has a son named Albert from her previous marriage.
    'Skiplagging' passenger sued after ditching connecting flight

    'Skiplagging' passenger sued after ditching connecting flight

    The hack is named after the website Skiplagged , an airfare search engine that claims to "expose loopholes to save your money". Rather than take the completing Frankfurt to Oslo leg, he instead took a different Lufthansa flight from Frankfurt to Berlin.
  • Texas sheriff: 2 malnourished children found in dog cage; 2 adults arrested

    Texas sheriff: 2 malnourished children found in dog cage; 2 adults arrested

    Law enforcement and Department of Family and Protective Services staff are still investigating the case, Gonzales said. Akin said Harkings is the biological mother of all four children, and Fabila is the biological father of one child.
    Meghan Markle being ‘vilified’ by press like Diana, says Clooney

    Meghan Markle being ‘vilified’ by press like Diana, says Clooney

    Meghan laughed as a relative of one of the children showed her a photo on her phone, zooming in on the image to get a closer look. Last weekend, some media published details of an intimate letter they said Meghan has sent her estranged father.
    Savage released from prison

    Savage released from prison

    LaPolt said last week that attorneys were working to clear up any misunderstandings with ICE and help free the rapper. His second solo album " I Am I Was ", released in December, debuted at No. 1 on the Billboard 200 albums chart.
  • North Macedonia Puts Itself On The Map, Officially

    North Macedonia Puts Itself On The Map, Officially

    Macedonian authorities began yesterday removing official signs from government buildings to prepare for the country's new name: North Macedonia.
    Mammograms, breast cancer treatment saving thousands of lives

    Mammograms, breast cancer treatment saving thousands of lives

    The study of 2,900 women at 34 screening centres, found tumours in 50 women aged 35 to 39 who had breast cancer in their family. The charity's chief executive, Baroness Delyth Morgan said that earlier tests could prove to be "an enormous breakthrough".
    Bill Cosby's spokesman says the comedian thinks prison is an 'amazing experience'

    Bill Cosby's spokesman says the comedian thinks prison is an 'amazing experience'

    Cosby's been trying to stop him from drinking coffee for 55 years and it took this to stop him from drinking coffee". Cosby's been trying to stop him from drinking coffee for 55 years and it took this to stop him from drinking coffee.


Most liked

Video of woman in Canada throwing chairs from 45th floor sparks outrage
That report adds that another chair, as well as other objects, were also thrown from the balcony but not recorded. The chairs reportedly landed near the building's front entrance and there were no reports of injuries.

Westbrook, PG Etch Names In Triple-Double History
George had 12 rebounds and 10 assists for the third triple-double of his career as the Thunder improved to 37-19 on the season . He broke Wilt Chamberlain's record of consecutive triple-doubles in a season .

Anthony Joshua to defend titles against Jarrel Miller
Joshua is one of the most popular fighters in the world and has drawn crowds in excess of 80,000 in the U.K. He also soundly defeated Johann Duhaupas in a 12-rounder sandwiched between the Wach and Adamek matches.

Savage Released on Bond From ICE Detainment
In 2005, Abraham-Joseph was issued a temporary visa which expired a year later, when he was only 13 years of age. The attorneys also said ICE was incorrect that Abraham-Joseph has a felony conviction on his record.

NASA to speak today on the fate of Mars Opportunity Rover
Deputy project scientist Abigail Fraeman was a 16-year-old high school student when Opportunity landed on Mars. It's especially frustrating, according to Callas, not knowing precisely why Opportunity-or Spirit-failed.

Apple, Google under fire for Saudi app that lets men track women
Apple CEO Tim Cook told USA public radio NPR yesterday that he had not heard of Absher but pledged to "take a look at it". Both firms hosted Saudi Arabia's Crown Prince Mohammed bin Salman past year .

US charges former Air Force officer with spying for Iran
But later that year, she helped an unnamed Iranian-American official produce an anti-American propaganda film. They also remain at large; arrest warrants have been issued for them.

Morgan Stanley to buy Canadian employee stock manager Solium for $1.1 billion
Morgan Stanley announced on Monday that it is buying Canadian employee stock plans manager Solium Capital (TSX:SUM) for $1.1 billion.

'Yesterday' Trailer Takes Place In A World No One Knows The Beatles
Lily James ( Cinderella ) plays Ellie, Jack's childhood best friend who Jack may lose as he ascends to rock "n" roll fame. This looks as amusing and enjoyable as I hoped, and I can't wait to see it.

Michelle Obama reveals hilarious text exchange with her mother after Grammys
Ms Obama delivered a message on women empowerment alongside Lady Gaga , Jennifer Lopez , Alicia Keys and Jada Pinkett-Smith, delighting the audience.

Dua Lipa’s Grammys Look Is Just as Electric as Her Nominated Single
The "stepped up" comment was referring to a remark made during last year's Grammy Awards by Recording Academy president Neil Portnow.

Jamie Redknapp: What Ole Gunnar Solskjaer needs to get Man United job
The top four is one thing but we want to be at the top and Manchester United should be at the top. PSG could also be in trouble as an item landed at the feet of Luke Shaw in the first half.

First ‘Frozen 2’ Trailer Returns to Arendelle with Anna and Elsa
The second film will be based around autumn returning to Arendelle and has a confirmed release date of November 2019. The 2013 film won two Academy Awards in the categories of Best Animated Feature and Best Original Song ("Let It Go").

Shannon Gabriel charged by the International Cricket Council for alleged homophobic insult
Root declined to reveal what Gabriel had said in an interview after the close of play, telling Sky News : "It's Test cricket". West Indies coach Richard Pybus said there have been no reports of abusive language but will investigate if any are made.

Frozen 2 trailer drops and things look risky for Elsa and Anna
Penned by Allison Schroeder (Christopher Robin), Frozen 2 arrives in theaters November 22, 2019. Frozen 2 will see the return of Idina Menzel , Kristen Bell , Jonathan Groff and Josh Gad .