© Reuters. FILE PHOTO: The logo for electric vehicle startup Rivian is seen on the hood of its new R1T all-electric truck in Mill Valley, California, U.S., January 25, 2020. REUTERS/Nathan Frandino
(Reuters) – Amazon.com (NASDAQ:) Inc-backed electric vehicle start-up Rivian Automotive is in talks with ministers about building a factory in the UK that could include a big state support package, Sky News reported on Saturday.
The company, which is also backed by Ford Motor (NYSE:) Co, has been in negotiations with the British government for weeks about the construction of a plant near Bristol, the report https:// added.
The talks are not yet at an advanced stage and any investment decision is likely to be ultimately worth well over 1 billion pounds ($1.39 billion), the report said, citing sources.
Rivian, seen as a potential rival to Tesla (NASDAQ:) Inc, said this month it expects to begin first deliveries of its R1T pick-up truck in September and its R1S SUV in the autumn.
($1 = 0.7191 pounds)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Education News Click Here
For the latest news and updates, follow us on Google News.
