Amazon.com owns a 20% stake in electric-vehicle maker Rivian Automotive, the startup with which it has placed an order for 100,000 battery-powered delivery vans, the e-commerce giant disclosed Friday in a securities filing.
As of Sept. 30, Amazon held equity investments “including preferred stock of Rivian Automotive representing an approximately 20% ownership interest,” with a carrying value of $3.8 billion — up from $2.7 billion at the end of 2020, Amazon said in the filing.
Irvine, California-based Rivian had disclosed in a separate filing this year that Amazon had invested more than $1.3 billion in the automaker and held almost 150 million shares of preferred stock. However, Amazon’s voting power as a percentage was redacted.
A representative for Rivian declined to comment.
Peter Krawiec, a senior vice president of worldwide corporate and business development at Amazon, is on Rivian’s board. The Seattle-based company’s order for electric delivery vans extends through the end of the decade, with the first 10,000 units due before the end of next year.
Other investors include Ford Motor Co., which has invested more than $820 million in Rivian and holds a stake greater than 5%. Ford vacated its Rivian board seat earlier this month.