• From CNBC:
"Rivian and Amazon are in discussions to adjust the exclusivity clause of their agreement for the EV maker’s electric delivery trucks, a company spokeswoman said Monday.
"Eliminating the exclusivity piece of the agreement would allow Rivian to court new customers as it works to ramp production of the vans and its R1 series pickup and SUV. The company is also working on a forthcoming R2 model and is in need of cash. Last week, Rivian announced plans to raise $1.3 billion via a sale of convertible notes to help fund R2 development and launch."
The story notes that "Rivian and Amazon struck a deal in 2019 to hand over 100,000 electric trucks to the e-commerce giant. Amazon began delivering packages with the vehicles in July, and Rivian last month touted 10 million packages delivered via the vans.
"But Amazon, Rivian’s largest shareholder, has since underwhelmed with its order numbers, telling Rivian it wanted to buy about 10,000 vehicles this year — the low end of a previously stated range … Amazon said in a statement to CNBC that 10,000 vehicles was the original commitment, and that there has been no change to its order volume or partnership with Rivian."
