Chuck Martin

Electric pickup-truck startup Rivian is receiving an equity investment of $700 million in a round led by Amazon.

The Michigan company is working on two vehicles, promising to deliver up to more than 400 miles of range with off-road capability.

Rivian introduced both the battery-powered RIT truck and the RIS SUV electric sport utility vehicle at the Los Angeles Auto Show in November.

“We’re inspired by Rivian’s vision for the future of electric transportation,” stated Jeff Wilke, Amazon CEO worldwide consumer. “RJ has built an impressive organization, with a product portfolio and technology to match.”

The vehicles are scheduled to be produced at Rivian’s manufacturing plant in Illinois with customer deliveries expected to start in late 2020.

Amazon recently participated in a $530 million investment raised by autonomous technology developer Aurora.