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Soros Teams Up With Electric Truck Startup Rivian

By  |  February 14, 2022

Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc  in the quarter ended Dec. 31, reported Reuters. 

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    The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in the company. Rivian, which is 20% owned by Amazon.com Inc , is expected to provide the e-commerce company with more than 100,000 electric trucks.

    Irvine, California-based Rivian said in December it expected production to fall “a few hundred vehicles short” of its 2021 target of 1,200 due to supply chain constraints, highlighting the likely challenges in ramping up production to take on EV leader Tesla.

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