May 28, 2023

Buno Filter

Drive your way

Amazon discloses 20% stake in EV maker Rivian Inc. owns a 20 percent stake in electric-vehicle maker Rivian Automotive Inc., 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, Inc. representing an approximately 20 percent 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 seperate filing earlier 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.