Chevy Bolt EV Forum banner

1 - 11 of 11 Posts

·
Registered
Joined
·
1,424 Posts
Discussion Starter #1
Amazon, GM in talks to invest in electric pickup truck maker Rivian: sources Harry Brumpton, Stephen Nellis


(Reuters) - Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday.

The deal would give Amazon and GM minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first carmaker to the U.S. consumer market with an electric pickup.

If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.

“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.

jack vines
 

·
Registered
Joined
·
862 Posts

·
Registered
Joined
·
3,361 Posts
I'm still interested in why GM hasn't made anything public. If the rumors were true about Amazon, one would think they are also true about GM. Unless GM is intending to be a silent partner, though I'm not sure what legal requirements they would have to publish their investment.
 

·
Registered
Joined
·
1,044 Posts
I'm still interested in why GM hasn't made anything public. If the rumors were true about Amazon, one would think they are also true about GM. Unless GM is intending to be a silent partner, though I'm not sure what legal requirements they would have to publish their investment.
If the rumors are true, it would hurt GM big time to disclose this information. They would be telling their customers that EV trucks/SUVS are the future and that would impact sales of their own truck/SUV fleet. Car companies often times wont release information about future vehicles because research shows people will wait for a newer/high tech vehicle if it is only a few years away.

I doubt GM would invest in a start-up like this if they are trying to do the same thing to their trucks. If you are GM you don't invest if you like the idea of Rivian, you try to acquire them completely.
 

·
Registered
Joined
·
3,361 Posts
If the rumors are true, it would hurt GM big time to disclose this information. They would be telling their customers that EV trucks/SUVS are the future and that would impact sales of their own truck/SUV fleet. Car companies often times wont release information about future vehicles because research shows people will wait for a newer/high tech vehicle if it is only a few years away.
That is why (despite the bad PR backlash) I think GM hasn't released any information on their upcoming EVs. They need to move as many Bolt EVs and Volts as they can before the Federal Tax Credit steps down. Get those 5,000 to 6,000 cars out of inventory and then tell the public what you have coming up.

I doubt GM would invest in a start-up like this if they are trying to do the same thing to their trucks. If you are GM you don't invest if you like the idea of Rivian, you try to acquire them completely.
I was thinking the same thing; however, GM has shown that they are willing to buy power trains and drive units from other companies. If they see Rivian as a potential third-party suppler, they might not approach as a takeover. That's also why I think both rumors (GM buying power trains from Tesla and GM investing in Rivian) could be true.
 

·
Registered
Joined
·
1,218 Posts
I was thinking the same thing; however, GM has shown that they are willing to buy power trains and drive units from other companies. If they see Rivian as a potential third-party suppler, they might not approach as a takeover. That's also why I think both rumors (GM buying power trains from Tesla and GM investing in Rivian) could be true.

I guess GM won't be making any Spark motors any more :( ----

https://www.baltimoresun.com/business/bs-md-general-motors-white-marsh-20181205-story.html
 

·
Registered
Joined
·
3,361 Posts
Musk this morning tweeting some event for tomorrow at 2PM California time and one of the rumors of what it could be is the pickup truck/drivetrain partnership. Evidently GM pulled out of the Rivian deal? Can someone verify?
Again, I don't think the two investments/strategies would be mutually exclusive.

I'm figuring tomorrow will be the Model Y unveiling, with very special guest invite only.
 

·
Registered
Joined
·
5,442 Posts
I'm figuring tomorrow will be the Model Y unveiling, with very special guest invite only.
With all the crossover/SUV thingies coming out, he had better show the Model Y.

Even Ford is showing concept pictures of a Mustang crossover/SUV. What a lame marketing idea. I guess the Mustang is the only Ford car label that still has any buzz.
 

·
Registered
Joined
·
1,569 Posts
I would be surprised if it were the Model Y reveal for a few reasons;
1. Not enough build up for such a huge event. Remember that the Model Y will crush the Model 3 in popularity and the Model 3 was hyped for a few weeks.
2. See #1 , Tesla can't afford to Osborne the Model 3 just yet which I think the Y would do.
3. I believe his tweet was an announcement, not an event.
4. It's possibly an announcement of when the Model Y reveal could be though.
My guesses are in order of probability,
Advanced summon highlighting HW3 capabilities, possibly the long promised CC unmanned road trip.
$35k SR model 3 availability
V3 Supercharger
JV on pickup driveline
GF4 Europe
I'm not expecting anything truly earth shattering. Could just be the announcement of the $920M bond payoff which is pretty much old news at this point since they have enough FCF each of the last 2 quarters and have already stated they will pay it off with cash.
 
1 - 11 of 11 Posts
Top