Amazon places big bet in Tesla rival and electric truck startup Rivian

Amazon said on Friday it would lead a $700 million investment in U.S. electric pickup truck startup Rivian, in the e-commerce giant's biggest bet on technologies with potential to reshape the automotive sector. The deal represents a major endorsement of Rivian's electric vehicle technology by the world's largest online retailer, which is looking for ways to boost the speed and reduce the cost of its deliveries. Reuters reported on Tuesday that Amazon and General Motors were in talks to invest in Rivian. Amazon is leading a $700 million investment in electric pickup startup Rivian, in the tech giant's biggest bet on technologies with potential to reshape the automotive sector. GM's talks with Rivian about an investment are continuing and any deal would be announced at a later date, people familiar with the talks said on Friday.