Rivian, Amazon in talks to end exclusivity part of electric van deal

Electric-vehicle maker Rivian Automotive Inc and its largest shareholder Amazon.com Inc are in talks to finish the exclusivity a part of their electrical van deal, the Wall Street Journal reported on Monday citing folks conversant in the matter.

Online retailer Amazon had positioned an order for 100,000 electrical supply vans (EDVs) from the Irvine, California-based EV maker in 2019, as a part of the corporate’s plans to chop carbon emissions. It has taken deliveries and inducted the EDVs into its fleet, with over 10 million packages delivered utilizing the vans.

Amazon knowledgeable the EV maker it needed to purchase about 10,000 vans this 12 months, which was on the low finish of a spread it beforehand supplied Rivian, the report added.

Rivian mentioned it continues to work intently with Amazon. Shares of the EV maker fell round 3% in buying and selling earlier than the bell.

“While nothing has changed with our agreement with Rivian, we have always said we want others to benefit from their technology in the long run,” mentioned a spokesperson from Amazon.

Rivian makes and delivers the R1T pickup truck and R1S sport utility car aside from the electrical supply van for Amazon.

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