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Amazon reveals 20% stake in US EV-maker Rivian ahead of its IPO

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Amazon reveals 20% stake in US EV-maker Rivian ahead of its IPO

Amazon disclosed on Friday that it owns a 20% stake in Rivian, an electric car manufacturer that applied for an IPO earlier this month. The documents show that as of September 30, the e-commerce giant held equity investments, including Rivian preferred stock, which represented approximately 20% of the ownership interest. The “book value” of this holding is US$3.8 billion, higher than the US$2.7 billion as of December 31, 2020.

The disclosure appeared in a regulatory document, providing new insights into Rivian’s future relationship with Amazon. According to the electric car manufacturer’s initial public offering, Amazon has invested $1.345 billion in Rivian. Amazon also recently purchased $490 million worth of convertible notes on Rivian. According to certain pricing regulations, these notes will be converted into Class A shares after the IPO.

Amazon is not only an investor in Rivian; it is also a customer. In September 2019, Rivian reached an agreement with Amazon to produce 100,000 electric delivery vehicles. Rivian revealed earlier this month that it expects to deliver at least 10 cars in December 2021. All trucks (the remaining 99,990) will be delivered in 2025.

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When Rivian’s IPO applications fell for the first time, it was clear that Amazon was an important part of the Rivian world. For example, in the Rivian S-1 document, there are 81 mentions of Amazon.

This is due to Amazon’s dual identity as an investor and a customer. At the time, Amazon seemed to own at least 5% of Rivian, although the final figure has not yet been announced. Amazon’s disclosures indicate that its holdings are much larger.

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Music

While a Punjabi vocalist croons, PM Modi replicates Diljit Dosanjh’s beats and beats the table like a dholak. Observe

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While a Punjabi vocalist croons, PM Modi replicates Diljit Dosanjh’s beats and beats the table like a dholak. Observe

Prime Minister Narendra Modi recently met acclaimed singer- actor Diljit Dosanjh, describing their interaction as “very memorable.” 
Prime Minister Narendra Modi met singer-actor Diljit Dosanjh and lauded him as “a combination of talent and tradition.” During the “memorable’ meeting”, the two discussed music, culture, and India’s vibrancy, including yoga.

Diljit, PM Modi match beats

During the meeting, PM Modi praised Diljit for his achievements, saying, “When a boy from a small village in Hindustan shines on the global stage, it feels amazing. Your family named you Diljit, and you keep on winning people’s hearts, just as your name suggests.”

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Diljit responded, “We used to read that ‘Mera Bharat Mahan’ (My India is great), but when I travelled across India, I realised why people say this.” PM Modi highlighted India’s diversity, saying, “India’s vastness is its strength. We are a vibrant society.”

Diljit added, “The greatest magic in India is yoga.” PM Modi agreed, saying, “Those who have experienced yoga know its power.”

The singer-actor also admired PM Modi’s personal journey, saying, “I had watched your interview, sir. The position of Prime Minister is great, but behind it, there is a mother, a son, and a human being. Many times, this half-truth is much larger when you carry your mother and the sacred Ganga with you. That touches the heart.”

Diljit then sang a song on Guru Nanak, as PM Modi listened intently, beating the adjacent table like a dholak, matching his beats with Diljit’s.

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Diljit, PM Modi express grattitude

After the meeting, Diljit Dosanjh expressed his gratitude, calling it a “fantastic” way to start the year. He posted on X, “A fantastic start to 2025. A very memorable meeting with PM @narendramodi Ji. We talked about many things, including music, of course!”

PM Modi responded to Dosanjh’s post, describing their meeting as “a great interaction.” He said, “A great interaction with Diljit Dosanjh! He’s truly multifaceted, blending talent and tradition. We connected over music, culture, and more.”

Diljit recently concluded his Dil-Luminati tour in India with a grand performance in Ludhiana. Throughout his concerts at various venues, the singer aimed to address important social issues during his performances.

In a lighthearted and endearing moment, Prime Minister Narendra Modi was seen enjoying the beats of a Punjabi vocalist, tapping the table in rhythm like a dholak player during a recent cultural event. The video, which has since gone viral, showcases PM Modi replicating the infectious energy of Diljit Dosanjh’s iconic beats, capturing the essence of Punjabi music’s vibrancy and rhythm.

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The event brought together various cultural performers, with one Punjabi vocalist stealing the spotlight. As the singer crooned traditional Punjabi tunes, PM Modi, seated among other dignitaries, began enthusiastically tapping the table in sync with the music. His gestures resembled a seasoned dholak player, displaying his spontaneous connection with the pulsating beats.

The audience present erupted in applause, cheering on the Prime Minister’s engaging participation. Social media users were equally charmed, with many praising Modi’s ability to connect with the cultural diversity of India. “Modi Ji has the rhythm of a true Punjabi!” one user commented, while another said, “This is the energy we love to see in our leader.”

The moment also highlighted PM Modi’s commitment to celebrating India’s rich cultural heritage. His natural enjoyment of the performance reflects his appreciation for the art and music that unify the diverse communities of India.

Such lighthearted and relatable gestures from leaders often resonate deeply with the public, making them feel connected on a personal level.

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#PMModi #DiljitDosanjhBeats #PunjabiMusicVibes #CulturalCelebration #DholakBeats #IndiaUnity #MusicConnects #ViralMoment #PMModiInAction #PunjabiHeritage

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