Amazon Discloses 20% Stake In EV Firm Rivian

October 29, 2021 12:18 PM | 1 min read | Make a Comment

E-commerce juggernaut Amazon.com Inc AMZN disclosed a 20% stake in electric vehicle manufacturer Rivian Automotive Inc, with a carrying value of $3.8 billion, up from $2.7 billion in 2020 end.
Rivian just placed an order for 100,000 battery-powered delivery vans.
Rivian previously disclosed Amazon's over $1.3 billion investment in the automaker and held almost 150 million shares of preferred stock. However, Rivian redacted Amazon's voting power as a percentage.
Ford Motor Co F has invested over $820 million in Rivian and owns over 5%.
Amazon shares are trading lower as analysts reduced their price targets following disappointing Q3 results and Q4 outlook.
Price Action: AMZN shares traded lower by 2.95% at $3,345 on the last check Friday.

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