Rivian Ends Exclusive Partnership
【Summary】Rivian will no longer have an exclusive agreement with Amazon for its electric delivery vans. The decision allows other companies to purchase Rivian's vans, promoting electrification and reducing carbon emissions. Rivian remains committed to helping Amazon achieve its goal of having 100,000 electric vehicles on the road by 2030. This change benefits both Rivian and Amazon, as Amazon owns a 17% stake in Rivian.
Amazon has announced that it has deployed over 10,000 electric vans to date, as part of its efforts to reduce carbon emissions and promote sustainability in its delivery fleet. This comes as electric vehicle maker Rivian revealed that it will now allow other companies to purchase its fleet of delivery vans, marking the end of its exclusive agreement with Amazon.
Rivian, based in Irvine, California, made the decision to provide other companies with the opportunity to electrify their delivery fleets and contribute to the reduction of carbon emissions. The agreement with Amazon, which was established in 2019, previously prevented Rivian from selling commercial vans to other customers and granted Amazon exclusive access to the vehicles for a period of four years.
In addition to allowing other companies to purchase its vans, Rivian has reaffirmed its commitment to help Amazon reach its goal of putting 100,000 electric vehicles on the road by 2030. Amazon has already rolled out more than 10,000 electric vans as part of this initiative. Furthermore, Amazon owns a 17% stake in Rivian, so increased sales of Rivian vans will also benefit the e-commerce giant.
Udit Madan, Vice President of Transportation at Amazon, stated that the company has always aimed to share Rivian's technology with others in order to promote the adoption of electric delivery vehicles for the benefit of communities and the planet. 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 news and information, you can listen to today's daily briefing or visit the provided link.
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