TECH - Gary Black Sees Rivian Delivering 54K Vehicles This Year Says EV Maker To Turn Gross Margin Positive By 2024 End | Benzinga
Future Fund Managing Partner Gary Black is optimistic about California-based EV maker Rivian Automotive Inc (NASDAQ:RIVN) and expects it to deliver 14,000 units of its delivery vans this year.
What Happened: Early on Thursday, telecommunications company AT&T Inc (NYSE:T) announced that it will purchase EVs from Rivian for its fleet as part of a pilot program focused on cutting transport emissions. AT&T said that it expects to add Rivian’s commercial vans as well as R1 vehicles to its fleet starting in 2024.
Black noted that this is the first deal for Rivian after the company announced last month that it had ended its exclusivity agreement with online retailer Amazon.com Inc for its delivery vans.
Amazon placed an order for 100,000 EDVs from Rivian in 2019. As per the initial contract, Rivian could deliver solely to Amazon for ...