Amazon, the e-commerce giant that is now turning its focus to electric delivery vehicles, has revealed that it owns around a fifth of electric vehicle startup Rivian.

Rivian, an American electric vehicle (EV) maker and automotive technology firm founded in 2009, is said to be targeting a valuation of more than $70 billion in its potential initial public offering

In a recent announcement, online retailer Amazon’s CEO Jeff Bezos has revealed that electric vehicle startup Rivian is planning to produce its third vehicle --- a new electric delivery van.