Rivian Terminates Exclusive Partnership with Amazon, Opens Doors to New Buyers
Rivian has announced that it will no longer be exclusive to Amazon, allowing other companies to purchase its commercial electric vans. The decision comes after talks to strip out the exclusivity clause ahead of time. Amazon had invested over a billion dollars in Rivian in 2019, securing the exclusivity deal. Rivian still plans to fulfill its goal of delivering 100,000 electric vans to Amazon. Both Rivian and Amazon's stock prices rose following the announcement.