Amazon Reveals 20% Stake In Rivian

On Friday, Amazon announced its share in a startup of electric vehicle developer, Rivian Automotive. Amazon has 20% ownership interest in the company with a carrying value of $3.8 billion as of September 30, which was $2.7 billion on December 31. 

The news came out as a result of Rivian filing its IPO prospectus on October 1, where it planned to list on the Nasdaq under the symbol ‘RIVN’. Rivian also said that Amazon has exclusive rights to its electric delivery vehicles. Other than Amazon, Ford Motors also owns more than 5% stakes in Rivian.