Rivian has opened orders for its commercial electric vehicle (EV) van beyond its initial launch partners. The move comes after the company had been testing its vans with large fleet operators, including AT&T.
The two-size offering of 500 and 700 cubic feet provides varying payloads and capacities to suit different business needs. Priced at $79,900 and $83,900 respectively, the vans are set to enter a lucrative market that is expected to nearly double globally by 2034.
Industry giants like Ford and Mercedes already dominate the commercial van sector, with electric versions gaining traction among customers for shorter journeys and local deliveries. Rivian’s entry into this space could expand its opportunities on the commercial EV front, according to Wedbush analyst Dan Ives.
The growing e-commerce logistics market is driving demand for efficient delivery solutions, creating a significant opportunity for companies like Rivian. Global Market Insights forecasts that the commercial van business will reach $210.3 billion by 2034, with electrified vans accounting for around $50 billion of that growth.
Rivian’s decision to open orders beyond its initial partners indicates easing constraints on production, particularly the parts shortage that plagued the company in 2024. The company is set to provide an update on its commercial unit and other business segments when it releases fourth-quarter earnings after Thursday’s bell.
With sales of Ford’s E-Transit van jumping 64% in the US last year, the competitive landscape for commercial EV vans has never been more intense. As Rivian moves into this space, Wall Street will be watching closely to see how its commercial van business performs.
Source: https://finance.yahoo.com/news/rivian-opens-up-commercial-van-orders-a-potentially-lucrative-business-164736600.html