Rivian Ends Exclusive Partnership with Amazon
【Summary】Rivian, an electric vehicle maker, has announced that it will allow other companies to purchase its delivery vans, ending its exclusive agreement with Amazon. This decision aims to provide more opportunities for companies to electrify their fleets and reduce carbon emissions. Rivian will continue to support Amazon in its goal of putting 100,000 electric vehicles on the road by 2030. The news has resulted in a slight increase in the stock prices of both Rivian and Amazon.
Amazon has announced that it has deployed over 10,000 electric vans to date. This move is part of the company's plan to put 100,000 electric vehicles on the road by 2030. The electric vans are being provided by Rivian, an electric vehicle maker based in Irvine, California.
However, Rivian has recently made an announcement that it will now allow other companies to purchase its fleet of delivery vans. This decision marks the end of an exclusive agreement between Rivian and Amazon. The agreement, which was made in 2019, prevented Rivian from selling commercial vans to other customers and gave Amazon exclusive access to the vans for four years.
Rivian's decision to open up sales of its vans to other companies is aimed at providing more opportunities for businesses to electrify their delivery fleets and reduce carbon emissions. This move aligns with Amazon's goal of having more electric delivery vehicles on the road, as it believes this is beneficial for both communities and the planet.
Amazon, which owns a 17% stake in Rivian, stands to benefit from increased sales of the electric vans. The company has expressed its support for Rivian's decision and has stated that it has always wanted others to benefit from Rivian's technology in the long run.
Following the announcement, shares of both Rivian and Amazon stock experienced a slight increase in after-hours trading. Amazon currently holds the 9th position on the Transport Topics Top 100 list of the largest private carriers in North America.
For more transportation news and updates, subscribe to TTNews or listen to today's daily briefing.
- 2024 Tesla Cybertruck: Powerful Trim, Impenetrable Body
- Tata Motors opens recycling plant in India
- Pentagon's Expansion of EV Dealership in Response to Chinese BYD
- Electric Van Concept: Solving the HW Electro Puzzle
- Top exporters: Hyundai, Kia
- Opportunity for Electric Vehicle Tires
- PelicanTrain E-Bike: Heavy-Duty Cargo Hauler
- Volkswagen California Unveiled Before Production Debut
- Tesla Cybertruck 2023 launch - photos
- Cybertruck for Kids