X

Amazon sinks cash into EV startup Rivian as part of Climate Pledge

Amazon has been a big supporter of Rivian in the past and dished out another investment as part of its $2 billion Climate Pledge initiative.

rivian-van
Enlarge Image
rivian-van

Amazon delivery vans, courtesy of Rivian, coming soon.

Amazon

This past June, Amazon announced a $2 billion investment as its first step on the road toward becoming a net-zero carbon company by 2040. On Thursday, the online retail giant and technology company revealed the first group of companies that will benefit from the Climate Pledge Fund. Chief among them is electric vehicle startup Rivian.

Amazon didn't disclose how much Rivian receives in the round of investment, but it said the Climate Pledge Fund "participated in Rivian's latest investment round in July." To be clear, this not a separate investment, but a clarification noting the most recent Amazon investment actually came from the Climate Pledge Fund. The monies will further develop and integrate Rivian's "connected electric platform with Amazon's last mile delivery network," Amazon said.

It's the latest show of support Amazon enacted for Rivian. Amazon previously sank an undisclosed monetary investment into the budding electric carmaker and announced that it will purchase 100,000 electric delivery vans from the company. Not any electric vans, but purpose-built and designed vans for Amazon. They look like cute machines and we've seen a few behind-the-scenes looks to highlight how Rivian and Amazon are putting delivery drivers as the focus for the new project. Amazon expects the first 10,000 vans to hit the streets and start dropping off packages no later than 2022. The other 90,000 will trickle onto the roads through 2030.

While Rivian works with Amazon, its other projects are coming along. Although the first R1T electric pickups and R1S electric SUVs were supposed to start deliveries this year, the coronavirus pushed the time frame back to next year. Production will take place at a former plant in Normal, Illinois.

Go behind the scenes of the Rivian-built Amazon electric delivery van

See all photos
Watch this: The R1T concept from Rivian is the electric truck we've been waiting for
Sean Szymkowski
It all started with Gran Turismo. From those early PlayStation days, Sean was drawn to anything with four wheels. Prior to joining the Roadshow team, he was a freelance contributor for Motor Authority, The Car Connection and Green Car Reports. As for what's in the garage, Sean owns a 2016 Chevrolet SS, and yes, it has Holden badges.
Sean Szymkowski
It all started with Gran Turismo. From those early PlayStation days, Sean was drawn to anything with four wheels. Prior to joining the Roadshow team, he was a freelance contributor for Motor Authority, The Car Connection and Green Car Reports. As for what's in the garage, Sean owns a 2016 Chevrolet SS, and yes, it has Holden badges.

Article updated on September 17, 2020 at 10:59 AM PDT

Our Experts

Written by 
Sean Szymkowski
CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid. Reviews ethics statement
Sean Szymkowski
It all started with Gran Turismo. From those early PlayStation days, Sean was drawn to anything with four wheels. Prior to joining the Roadshow team, he was a freelance contributor for Motor Authority, The Car Connection and Green Car Reports. As for what's in the garage, Sean owns a 2016 Chevrolet SS, and yes, it has Holden badges.
Why You Can Trust CNET
174175176177178179180+
Experts Interviewed
030405060708091011121314+
Companies Reviewed
108109110111112113+
Products Reviewed

We thoroughly evaluate each company and product we review and ensure our stories meet our high editorial standards.