Amazon is in talks with Rivian to potentially eliminate the exclusivity clause in their initial deal for electric delivery trucks.
The adjustment would allow Rivian to sell its vans to other customers.
- The original deal signed in 2019 required Rivian to sell all the electric vans it makes directly to Amazon.
- Amazon recently told Rivian that it intends to buy around 10,000 vans in 2023, fewer than the EV maker expected.
- Due to the lower-end figure, Rivian has proposed ending their exclusivity terms, though talks remain ongoing.
- Amazon
said it still intends to acquire 100,000 vans from Rivian by 2030, as
stated in their original agreement, as it seeks to decarbonize its
last-mile delivery operations.
- Meanwhile, Rivian said it plans to produce 50,000 vehicles this year, roughly 10,000 below analysts’ expectations.
- Last week, the EV maker said it plans to raise $1.3B in cash by selling convertible notes. It intends to use the new funds to develop its R2 series vehicles, expected to launch in 2026.
