Amazon invests in electric ute and SUV company

Amazon, along with other investors, has injected another US$700 million ($987 million) into Rivian. According to the Rivian, the automaker will remain independent. In a prepared statement, Jeff Wilke, the CEO of Amazon's Worldwide Consumer division, said, "We're inspired by Rivian’s vision for the future of electric transportation". The company hasn't released any further details about this round of funding, so it's unclear how much investors are valuing the startup automaker at.