Rivian is revisiting its exclusivity agreement with Amazon for EV delivery trucks
Publishing timestamp: 2023-03-13 16:19:37
Summary
Rivian and Amazon are discussing adjusting the exclusivity clause of their agreement for Rivian's electric delivery trucks. Eliminating exclusivity would allow Rivian to court new customers as it ramps up production of its vehicles and is in need of cash. Amazon has underwhelmed with its order numbers, but says there has been no change to its order volume or partnership with Rivian. Shares of Rivian fell around 3% on the news.
Sentiment: NEUTRAL
Keywords: business, climate, autos, electric vehicles, business news, transportation, technology, rivian automotive inc, amazon.com inc,
Source: https://www.cnbc.com/2023/03/13/rivian-amazon-exclusive-agreement-ev-delivery-trucks.html