Certainly one of Amazon’s recent electric delivery vans from Rivian is prepared to leave Amazon’s distribution center on Cyber Monday, November 28, 2022 in Aurora, Colorado.
Rj Sangosti | Denver Post Office | Getty Images
Rivian AND Amazon are in talks to adjust the exclusivity clause of their contract for the electrical vehicle maker’s electric vans, an organization spokeswoman said on Monday.
Eliminating the exclusivity a part of the deal would allow Rivian to solicit recent customers as it really works to ramp up production of vans and the R1-series pickup and SUV. The corporate can also be working on the upcoming R2 model and is in need of money. Last week, Rivian announced plans to raise $1.3 billion through the sale of convertible bonds to help fund the event and launch of R2.
Rivian spokeswoman Marina Norville said in a press release that the corporate’s relationship with Amazon is and continues to be positive.
“We proceed to work closely together and navigate the changing economic climate, as do many corporations,” she said.
Rivian and Amazon struck a deal in 2019 to give the e-commerce giant 100,000 electric trucks. Amazon began delivering vehicle packages in July, and Rivian last month advertised 10 million packages delivered by vans.
But Amazon, Rivian’s biggest shareholder, has since upset within the variety of orders, telling Rivian it wants to buy around 10,000 vehicles this 12 months – the lower end of its previously stated range, according to Wall Street Journalwhich was the primary to announce the discussions on ending the exclusivity.
Amazon said in a press release to CNBC that the unique commitment was 10,000 vehicles and that there was no change so as volumes or partnership with Rivian.
“While nothing has modified in our deal with Rivian, we have at all times said we would like others to use their technology in the long run because having more electric delivery vehicles on the road is sweet for our communities and our planet,” an Amazon spokesperson said. .
Rivian’s shares fell about 3% on Monday.
— Annie Palmer and John Rosevear of CNBC contributed to this report.