Economic news

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

2023.03.13 08:37


© Reuters. FILE PHOTO: A Rivian Automotive sign outside the electric truck maker’s facility, in Plymouth, Michigan, U.S., July 15, 2022. REUTERS/Kevin Krolicki/File Photo

(Reuters) -Electric-vehicle maker Rivian Automotive Inc and its largest shareholder Amazon.com Inc (NASDAQ:) are in talks to end the exclusivity part of their electric van deal, the Wall Street Journal reported on Monday citing people familiar with the matter.

Online retailer Amazon had placed an order for 100,000 electric delivery vans (EDVs) from the Irvine, California-based EV maker in 2019, as part of the company’s plans to cut carbon emissions. It has taken deliveries and inducted the EDVs into its fleet, with over 10 million packages delivered using the vans.

Amazon informed the EV maker it wanted to buy about 10,000 vans this year, which was at the low end of a range it previously provided Rivian, the report added.

Shares of the EV maker fell around 1% in trading before the bell.

Rivian makes and delivers the R1T pickup truck and R1S sport utility vehicle apart from the electric delivery van for Amazon.

Rivian and Amazon did not immediately respond to Reuters’ requests for comment.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 67,878.19 0.83%
ethereum
Ethereum (ETH) $ 2,427.21 0.96%
tether
Tether (USDT) $ 0.999816 0.02%
bnb
BNB (BNB) $ 555.30 0.02%
solana
Solana (SOL) $ 161.62 0.20%
usd-coin
USDC (USDC) $ 1.00 0.07%
xrp
XRP (XRP) $ 0.509763 1.93%
staked-ether
Lido Staked Ether (STETH) $ 2,426.94 0.97%
dogecoin
Dogecoin (DOGE) $ 0.158567 7.71%
tron
TRON (TRX) $ 0.163879 0.26%
the-open-network
Toncoin (TON) $ 4.79 0.51%
cardano
Cardano (ADA) $ 0.326159 2.12%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,878.03 0.70%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,847.18 0.65%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 1.63%
avalanche-2
Avalanche (AVAX) $ 23.12 0.49%
weth
WETH (WETH) $ 2,425.45 1.05%
bitcoin-cash
Bitcoin Cash (BCH) $ 335.99 1.08%
chainlink
Chainlink (LINK) $ 10.35 3.70%
usds
USDS (USDS) $ 1.00 0.07%
leo-token
LEO Token (LEO) $ 6.04 1.37%
polkadot
Polkadot (DOT) $ 3.78 0.20%
sui
Sui (SUI) $ 1.89 2.04%
litecoin
Litecoin (LTC) $ 66.58 0.38%
near
NEAR Protocol (NEAR) $ 3.63 0.60%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,552.57 0.97%
aptos
Aptos (APT) $ 8.09 0.56%
uniswap
Uniswap (UNI) $ 6.85 1.87%
pepe
Pepe (PEPE) $ 0.000008 0.45%
internet-computer
Internet Computer (ICP) $ 7.13 0.41%
dai
Dai (DAI) $ 1.00 0.06%
bittensor
Bittensor (TAO) $ 423.72 1.71%
monero
Monero (XMR) $ 161.47 2.79%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.13 1.38%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
stellar
Stellar (XLM) $ 0.091476 1.04%
whitebit
WhiteBIT Coin (WBT) $ 18.87 0.18%
ethereum-classic
Ethereum Classic (ETC) $ 17.76 0.16%
kaspa
Kaspa (KAS) $ 0.10282 5.73%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.61%
okb
OKB (OKB) $ 37.53 0.40%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.293599 2.61%
blockstack
Stacks (STX) $ 1.47 1.31%
dogwifcoin
dogwifhat (WIF) $ 2.03 0.47%
filecoin
Filecoin (FIL) $ 3.34 0.64%
aave
Aave (AAVE) $ 129.16 1.87%
crypto-com-chain
Cronos (CRO) $ 0.070993 0.27%
arbitrum
Arbitrum (ARB) $ 0.478031 0.13%
mantle
Mantle (MNT) $ 0.556006 0.56%
celestia
Celestia (TIA) $ 4.40 2.12%