Home United Kingdom Amazon-backed Rivian in talks with ministers over UK factory -Sky News

Amazon-backed Rivian in talks with ministers over UK factory -Sky News

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Amazon-backed Rivian in talks with ministers over UK factory -Sky News

The logo for electrical vehicle startup Rivian is considered on the hood of its new R1T all-electrical truck in Mill Valley, California, U.S., January 25, 2020. REUTERS/Nathan Frandino

July 31 (Reuters) – Amazon.com Inc-backed electrical vehicle begin-up Rivian Automobile is in talks with ministers about building a factory in the UK that also can include a immense state improve kit, Sky News reported on Saturday.

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The firm, which is moreover backed by Ford Motor Co (F.N), has been in negotiations with the British government for weeks in regards to the construction of a plant advance Bristol, the file added.

The talks are not yet at an superior stage nonetheless any investment decision would seemingly be worth successfully over 1 billion pounds ($1.39 billion), the file acknowledged, citing sources.

The Division for Business, Vitality and Industrial Scheme (BEIS) declined to comment on “individual investments”.

In an emailed assertion to Reuters, BEIS acknowledged: “While we are working to entice inward investment into the UK to speed up the progress of new industries, we won’t comment on speculation about individual investments.”

Rivian, considered as a capability rival to Tesla Inc (TSLA.O), acknowledged this month it expects to begin first deliveries of its R1T plan shut-up truck in September and its R1S SUV in the autumn. learn extra

($1 = 0.7191 pounds)

Reporting by Aishwarya Nair in Bengaluru; additional reporting by William Schomberg and Vishal Vivek; editing by Jason Neely

Our Standards: The Thomson Reuters Trust Principles.

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Amazon-backed Rivian in talks with ministers over UK factory -Sky News – Reuters