Rivian is now letting other companies buy its commercial electric vans, ending an exclusivity deal that Amazon secured in 2019. The automaker said on Tuesday that it will now open up its electric vans to other companies, including delivery fleets, last-mile logistics providers, and retail businesses.
Rivian’s decision to end the exclusivity deal with Amazon is a major win for the company. It will allow Rivian to sell its vans to a wider range of customers and potentially boost its sales. It could also help to accelerate the electrification of the delivery fleet, as more companies are looking to switch to electric vehicles to reduce their emissions.
Amazon has already said that it plans to buy 100,000 electric vans from Rivian by the end of the decade. However, Rivian is now free to sell its vans to other companies, which could help it to reach its production goals faster.
The move is also good for the environment. Electric vans produce zero emissions, which can help to improve air quality and reduce greenhouse gas emissions.
Rivian stocks rise
Rivian’s stock price rose following the announcement, and Amazon’s stock price also rose slightly. This suggests that investors are optimistic about the future of both companies.
Overall, Rivian’s decision to end the exclusivity deal with Amazon is a positive development for the company, its customers, and the environment. It is a sign that Rivian is confident in its ability to compete in the electric vehicle market, and it could help to accelerate the adoption of electric vehicles.