On Cyber Monday, November 28, 2022 in Aurora, Colorado, one of Amazon’s new electric delivery vans in Rivian is ready to depart an Amazon shipping facility.
Rj San Gosti | Denver Post | Getty Images
Rivian and Amazon A company spokeswoman said Monday that it is in talks to adjust the exclusivity clause in the contract for the EV maker’s electric delivery trucks.
By removing the exclusive portion of the contract, Rivian will gain new customers as it expands production of vans and R1 series pickups and SUVs. The company is also working on the upcoming R2 model and needs cash. Last week, Rivian announced that he plans to raise $1.3 billion through the sale of convertible bonds to fund the development and launch of R2.
Rivian spokeswoman Marina Norville said in a statement that the company has and will continue to have a good relationship with Amazon.
“We continue to work closely together and, like many businesses, we are adapting to the changing economic climate,” she said.
Rivian and Amazon have signed a deal to deliver over 100,000 electric trucks to the e-commerce giant in 2019. Amazon said he began delivering packages containing vehicles in July, and Rivian last month. Advertise 10 million packages Delivered in a van.
But Rivian’s largest shareholder, Amazon, has since been overwhelmed by orders, telling Rivian it wants to buy about 10,000 cars this year. wall street journalfirst reported discussions to terminate the exclusivity.
In a statement to CNBC, Amazon said its initial commitment of 10,000 vehicles was unchanged, with no change to its order volume or its partnership with Rivian.
“While our deal with Rivian remains unchanged, having more electric delivery vehicles on the road is good for our community and the planet, so in the long term we want others to benefit from their technology. I’ve always said,” Amazon said. a spokesperson said.
Rivian shares fell about 3% in early trading on Monday.
