One among Amazons new electrical supply vans from Rivian will get prepared to go away the Amazon Distribution Facility on Cyber Monday on November 28, 2022 in Aurora, Colorado.
Rj Sangosti | Denver Submit | Getty Pictures
Rivian and Amazon are in discussions to regulate the exclusivity clause of their settlement for the EV maker’s electrical supply vehicles, an organization spokeswoman mentioned Monday.
Eliminating the exclusivity piece of the settlement would enable 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 also 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.
Rivian spokeswoman Marina Norville mentioned in an announcement 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.
Rivian and Amazon struck a deal in 2019 at hand over 100,000 electrical vehicles to the e-commerce big. Amazon began delivering packages with the autos 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 autos this 12 months — the low finish of a beforehand said vary, in accordance with The Wall Street Journal, which first reported the discussions to finish exclusivity.
Amazon mentioned in an announcement to CNBC that 10,000 autos 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 wish others to learn from their expertise in the long term as a result of having extra electrical supply autos on the street is sweet for our communities and our planet,” an Amazon spokesperson mentioned.
Shares of Rivian fell round 3% in early buying and selling Monday.
—CNBC’s Annie Palmer and John Rosevear contributed to this report.
