Rivian has opened up sales of its electric vans to commercial fleets, marking a significant shift from its exclusive partnership with Amazon. The company had previously agreed to sell vans exclusively to the e-commerce giant as part of a blockbuster deal in 2019.
Under the original agreement, Amazon acquired around 20,000 vans from Rivian in November 2023, or about 20% of the planned commitment. However, Rivian is now open for business and will sell vans to individual buyers with commercial fleets.
The electric vans come in two sizes and prices: the RCV 500 starts at $79,900, while the RCV 700 starts at $83,900. The company has spent the past year testing its vans with larger fleets, such as AT&T’s, and building out a service and software business for future customers.
This move could boost Rivian’s financial situation, which has been relatively unstable in recent years. The electric vans have better profit margins than the company’s R1T and R1S vehicles, and selling subscriptions to software features within the van can increase long-term value overall.
Source: https://www.theverge.com/news/608421/rivian-electric-commercial-van-sale-customer-amazon