According to US Consumer News and Business Channel CNBC, Amazon announced that it holds a large number of shares in the electric car startup Rivian Automotive.
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Amazon disclosed in a document submitted to the US Securities and Exchange Commission (SEC) that as of September 30, Amazon’s equity investment “ includes the preferred stock of Rivian Automotive, accounting for approximately 20% of the equity .”
Moreover, Rivian submitted an IPO prospectus, indicating that it plans to list on the Nasdaq under the stock code “RIVN”. In addition, Ford Motor also holds more than 5% of Rivian.
