The Wall Street Journal on Monday reported that Amazon, largest shareholder in Rivian Inc is in talks with Rivian on ending the exclusivity agreement.
In 2019 Rivian and Amazon had struck a deal that Rivian would hand over 100,000 electric trucks to Amazon. Since then, 10 million packages have been delivered using Rivian Trucks claims Rivian.
Recently, Amazon underwhelmed the number saying it wants to buy 10,000 electric trucks, which was lower end of the range. This could have led to talks between Amazon and Rivian to end exclusivity terms.
Ending the exclusivity agreement could help Rivian attract new customers as the electric vehicle maker is in need of cash. The electric vehicle maker is amping up the production of its vans, SUVs and R1 series pickup.
In a statement Rivian spokeswoman Marina Norville said “We continue to work closely together, and are navigating a changing economic climate, similar to many companies.”
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