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Rivian Jumps on End of Amazon Van Exclusivity, Boosted Guidance
- EV maker can negotiate new deals with other fleet operators
- Shares jump after higher outlook for production this year
Amazon.com delivery Rivian vans in Chicago.
Photographer: Jamie Kelter Davis/BloombergThis article is for subscribers only.
Rivian Automotive Inc. ended an exclusivity agreement to sell battery-electric vans to Amazon.com Inc. as the automaker raised its forecast for its overall production this year.
Effective immediately, Rivian will be allowed to negotiate new deals to sell its electric delivery vans to other fleet operators, the company said in a statement Tuesday. Rivian still plans to honor its original deal with Amazon to deliver 100,000 vans to the e-commerce giant by 2030.