Rivian announced on Tuesday it has ended its exclusivity agreement with Amazon, opening the door for other companies to purchase Rivian’s commercial electric delivery vans (RCV). The announcement was made in the company’s Q3 2023 earnings report.
Back in 2019, Amazon agreed to purchase 100,000 RCVs from Rivian by 2030, but the mega-deal came with the stipulation that Amazon would have exclusive rights to Rivian’s commercial fleet. However, the companies had been in discussions since March to remove this exclusivity clause.
Amazon recently celebrated the milestone of having 10,000 Rivian-built vans on the road in the US, and while the exclusivity agreement is now over, Rivian says it remains committed to delivering 100,000 electric vans to Amazon as per their agreement.
“Today, Rivian announced that it will enable other companies to purchase its custom-designed Rivian Commercial Van (“RCV”). This move provides companies all around the world more opportunity to electrify their delivery fleets with a state-of-the-art vehicle, which will help to further reduce CO2 emissions,” Rivian said.
Shares of Rivian (RIVN) were up nearly 2% after the release of their financial report.