Elon Musk and Tesla had better watch out because tech conglomerate Amazon just led a massive $700 million funding round in electric vehicle competitor Rivian. Amazon Leads Major Funding Round in EV Startup Rivian The Michigan-based Rivian has sought to carve out a segment of the burgeoning electric vehicle market by focusing its efforts on building pickup trucks and SUVs. Alongside Amazon, the funding round included participation from existing Rivian investors. The company did not disclose its new valuation. “This investment is an important milestone for Rivian and the shift to sustainable mobility,” said RJ Scaringe, Rivian Founder and CEO.
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