Tesla competitor gets major capital injection from Amazon and others

If all goes according to plan, the new electric pick-up trucks will hit the market next year.

The electric R1S SUV is expected to hit the US market in 2020. | Photo: Ritzau Scanpix/REUTERS/Mike Blake/File Photo

BY MARIE HOHNEN

Amazon is bidding on opportunities in the electric vehicle market through acquiring an equity position of USD 700 million in electric pick-up truck manufacturer Rivian Automotive LLC, which is entering competition with sector frontrunner Tesla, reports Reuters.

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