Edward Ludlow and Matt Day, Bloomberg »

Amazon.com Inc. owns a 20% stake in electric-vehicle maker Rivian Automotive Inc., the startup with which it has placed an order for 100,000 battery-powered delivery vans, the e-commerce giant disclosed Friday in a securities filing.

As of Sept. 30, Amazon held equity investments “including preferred stock of Rivian Automotive, Inc. representing an approximately 20% ownership interest,” which will be valued on the balance sheet at $3.8 billion — up from $2.7 billion at the end of 2020, Amazon said in the filing.

Crystal Tse and Edward Ludlow, Bloomberg »

Rivian Automotive Inc., the electric truck maker backed by Amazon.com Inc., is seeking to raise as much as $8.4 billion in an initial public offering that could give it a market value of as much as $53 billion.

Rivian said it plans to sell 135 million shares for $57 to $62 each, according to a filing Monday with the U.S. Securities and Exchange Commission, reaching that value at the top of the range based on the outstanding shares listed in its filing.