Amazon, an early backer of Rivian Automotive, presently possesses about a fifth of the electric-truck maker, the internet business giant uncovered in a quarterly documenting on Friday.
Ford, which has an essential relationship with Rivian, eliminated a delegate from the startup’s board recently.
Toward the finish of the second from last quarter, Amazon had a value revenue of around 20% in Rivian, as per the recording.
Rivian is additionally meaning to raise between $5 billion and $8 billion in a financial exchange debut not long from now, and looking for a valuation of about $80 billion, media detailed in September.
The company’s pre-IPO financial backers additionally incorporate T. Rowe Price and BlackRock.
Amazon on Thursday detailed dull quarterly outcomes and cautioned that a fixing labor market and increasing expenses would hurt its holiday-quarter results.