TECH - Rivian Is Spreading Its Wings Beyond Amazon | Benzinga
Rivian Automotive Inc (NASDAQ: RIVN) commited to deliver 100,000 electric vans to the e-commerce titan Amazon.com Inc (NASDAQ: AMZN). But as of November, Rivian and Amazon are no longer in an exclusive relationship, allowing Rivian to sell its electric fleet to others. Today, Rivian revealed its first deal after getting out of the exclusivity clause with Amazon, and it is with AT&T Inc (NYSE: T). But, what is good for Rivian is also good for Amazon as besides being a client, it is also an owner of a 17% stake in the EV startup.
AT& T Turns To Rivian As Part Of Its Sustainability Strategy
AT&T has embarked on a journey of lowering costs and cutting carbon emissions, along with improving safety. Although neither Rivian nor AT&T disclosed the exact number of vehicles AT&T decided to purchase nor the financial terms of the deal, they did reveal AT&T will be enriching its fleet with Rivian’s electric commercial vans, R1T pickup trucks, and R1S sport utility vehicles early next year. For a while now, AT&T has been transforming its ...