Rivian desires out of Amazon unique settlement for EV supply vehicles – EAST AUTO NEWS

Rivian desires out of Amazon unique settlement for EV supply vehicles

Considered one of Amazons new electrical supply vans from Rivian will get prepared to go away the Amazon Distribution Facility on Cyber Monday on November 28, 2022 in Aurora, Colorado.

Rj Sangosti | Denver Publish | Getty Photos

Rivian desires out of its unique settlement with Amazon for the EV maker’s electrical supply vehicles, an organization spokeswoman stated Monday.

Rivian and Amazon struck a deal in 2019 at hand over 100,000 electrical vehicles to the e-commerce large. Amazon started delivering packages with the automobiles in July, and Rivian final month touted 10 million packages delivered by way of the vans.

However Amazon, Rivian’s largest shareholder, has since underwhelmed with its order numbers, telling Rivian it needed to purchase about 10,000 automobiles this yr — the low finish of a beforehand said vary, in keeping with the Wall Avenue Journal, which first reported the discussions to finish exclusivity.

Amazon stated in a press release to CNBC that 10,000 automobiles was the unique dedication, and that there was no change to its order quantity or partnership with Rivian.

“Whereas nothing has modified with our settlement with Rivian, we have all the time stated that we wish others to learn from their expertise in the long term as a result of having extra electrical supply automobiles on the street is nice for our communities and our planet,” an Amazon spokesperson stated.

Rivian spokeswoman Marina Norville stated in a press release the corporate’s relationship with Amazon has and continues to be a optimistic one.

“We proceed to work intently collectively, and are navigating a altering financial local weather, much like many firms,” she stated.

Eliminating the exclusivity piece of the settlement would enable Rivian to court docket new prospects as it really works to ramp manufacturing of the vans and its R1 sequence pickup and SUV. The corporate can also be engaged on a forthcoming R2 mannequin and is in want of money.

Final week, Rivian introduced plans to boost $1.3 billion by way of a sale of convertible notes to assist fund R2 improvement and launch.

Shares of Rivian fell about 3% in premarket buying and selling Monday.

Rivian desires out of Amazon unique settlement for EV supply vehicles – EAST AUTO NEWS


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