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Rivian desires out of Amazon unique settlement for EV supply vans

One in all Amazons new electrical supply vans from Rivian will get prepared to depart the Amazon Distribution Facility on Cyber Monday on November 28, 2022 in Aurora, Colorado.

Rj Sangosti | Denver Submit | Getty Photos

Rivian desires out of its unique settlement with Amazon for the EV maker’s electrical supply vans, an organization spokeswoman mentioned Monday.

Rivian and Amazon struck a deal in 2019 handy over 100,000 electrical vans to the e-commerce big. Amazon began delivering packages with the automobiles in July, and Rivian final month touted 10 million packages delivered through the vans.

However Amazon, Rivian’s largest shareholder, has since underwhelmed with its order numbers, telling Rivian it wished to purchase about 10,000 automobiles this 12 months — the low finish of a beforehand acknowledged vary, in line with the Wall Street Journal, which first reported the discussions to finish exclusivity.

Amazon mentioned in a press release to CNBC that 10,000 automobiles was the unique dedication, and that there was no change to its order quantity or partnership with Rivian.

“Whereas nothing has modified with our settlement with Rivian, we have at all times mentioned that we would like others to profit from their know-how in the long term as a result of having extra electrical supply automobiles on the highway is nice for our communities and our planet,” an Amazon spokesperson mentioned.

Rivian spokeswoman Marina Norville mentioned in a press release the corporate’s relationship with Amazon has and continues to be a constructive one.

“We proceed to work carefully collectively, and are navigating a altering financial local weather, just like many corporations,” she mentioned.

Eliminating the exclusivity piece of the settlement would permit Rivian to courtroom new prospects as it really works to ramp manufacturing of the vans and its R1 sequence pickup and SUV. The corporate can be engaged on a forthcoming R2 mannequin and is in want of money.

Final week, Rivian introduced plans to raise $1.3 billion through a sale of convertible notes to assist fund R2 improvement and launch.

Shares of Rivian fell about 3% in premarket buying and selling Monday.

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