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GM And Amazon Reportedly In Talks To Invest In Tesla Rival Rivian

General Motors Co. (GM) and Amazon.com Inc. are in talks about investing in electric-vehicle maker Rivian Automotive LLC in a deal valuing the startup at $1 billion to $2 billion, according to the reports citing people familiar with the matter.

The Plymouth, Michigan-based startup is working on electric pickup and sport utility vehicle and debuted concept versions at the Los Angeles Auto Show in November. Talks are progressing and a deal could be announced as soon as Friday, the reports said.

An investment in Rivian could help GM get an electric pickup to market faster and help ward off upstarts such as Tesla Inc. For Amazon, investing in Rivian would signal an ambition to shift a portion of the massive vehicle fleet that delivers its packages to zero-emission vehicles.

"We admire Rivian's contribution to a future of zero emissions and an all-electric future," Pat Morrissey, a GM spokesman, said in a statement.

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