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

July 31 (Reuters) – Amazon.com Inc-backed electric vehicle start-up Rivian Automotive is in talks with ministers over building a UK plant that could include a major support program state, Sky News reported on Saturday.

The company, which is also backed by Ford Motor Co (FN), has been negotiating with the UK government for weeks over building a factory near Bristol, the report adds.

Talks are not at an advanced stage yet, but any investment decision would likely be worth well over a billion pounds ($ 1.39 billion), according to the report, citing sources.

The Ministry of Business, Energy and Industrial Strategy (BEIS) declined to comment on “individual investments”.

In an emailed statement to Reuters, BEIS said: “As we work to attract foreign investment to the UK to accelerate the growth of new industries, we cannot comment on individual investment speculation.”

Rivian, seen as a potential rival to Tesla Inc (TSLA.O), said this month that he plans to start the first deliveries of his R1T pickup truck in September and his R1S SUV in the fall. Read more

($ 1 = 0.7191 pounds)

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

Our Standards: Thomson Reuters Trust Principles.