Green Car Reportsreached out to all three companies.
Tesla now owns 90 percent of the USA electric vehicle market by revenue and 80 percent by unit sales.
If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.
Parcel delivery is an ideal use for electric autos, as the vehicles can begin and end trips at designated charging points and take anxiety over battery range out of the equation.
GM issued a statement that said, "We admire Rivian's contribution to a future of zero emissions and an all-electric future". Additional funds could give the company the additional push it needs to get its trucks to production and for it to form a retail and support strategy-which, in Rivian's case, may involve a direct sales model somewhat like that of Tesla, combined with traditional dealership networks that would "own" the service and support. The R1T pickup and R1S SUV were both on display.
Unlike rival automakers, Rivian is not trying to develop its own self-driving technology. GM CEO Mary Barra has said it has given a "tiny bit" of thought to developing all-electric pickups.
Rivian, founded by MIT mechanical engineering doctor R.J. Scaringe in 2009, aspires to be the first USA carmaker to offer a mass-produced, off-road electric pickup, a product Tesla CEO Elon Musk also has been eyeing for quite a while. Just this - someone at GM has awoken from a long winter's nap to discover the electric vehicle revolution is real and the General had better start taking things seriously if it intends to remain in business for long. Last Thursday, autonomous vehicle startup Aurora announced that it had raised $530 million from investors including Amazon, Sequoia and others. ALJ has agreed to provide nearly $500 million in funding, Sumitomo invested an undisclosed amount, and Standard Chartered provided debt financing of $200 million.
Rivian already boasts a $500 million stake from Abdul Latif Jameel, whose investments include the US branch of Japan's Sumitomo Bank, and the Toyota distributorship in Saudi Arabia, Kitman reported.