Amazon’s Rivian Deal: Is the Musk-Bezos Rivalry in Play?

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In a concerted effort to tackle climate change, Amazon CEO Jeff Bezos announced yesterday that the e-commerce titan had placed an order of 100,000 electric delivery vans from Michigan-based startup Rivian. Shifting to Rivian’s electric vans could help Amazon (AMZN) become carbon-neutral by 2040, earlier than the deadline set by the Paris Climate Agreement.

Interestingly, Amazon invested $700 million in Rivian in February. In April, Ford (F) invested $500 million in the startup. Notably, Ford’s former CEO, Mark Fields, called the deal risky, as reported today by my colleague Maitali Ramkumar. Cox Automotive invested $350 million in Rivian this month.

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