GM Talks With Amazon-Backed Electric Truckmaker May Be DeadMore
(Bloomberg) — Talks between General Motors Co. and electric-vehicle startup Rivian Automotive Inc. about the largest U.S. carmaker buying an equity stake have reached an impasse and may be dead, people familiar with the matter said.
GM had negotiated potentially taking a stake in Rivian and forging a partnership that may have helped the Plymouth, Michigan-based startup bring fully electric trucks and SUVs to market faster. GM was widely expected to become a strategic investor alongside Amazon.com Inc., which in February led a $700 million equity raise by the closely held company.
Discussions ended in the past two weeks, with Rivian founder R.J. Scaringe wanting to keep his options open, said one of the people. Rivian has had