The deal, if completed, would value Rivian at between $1 billion and $2 billion. The negotiations are still ongoing, but if successful the deal could be announced as early as this month, reported TheStreet's Jacob Sonenshine.
However, Rivian isn't the only company looking to take on Tesla. Back in August, TheStreet talked to another company--Workhorse (WKHS - Get Report) --which is also in the process of designing an electric pickup truck.
Workhorse CEO Stephen Burns told TheStreet that his company started building one when he realized that "the pickup truck is the number one consumer vehicle, but it's also the number one fleet vehicle...there's not even a mild hybrid. We just realized that the status quo of pickup trucks has almost been the same as it was invented, essentially."
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