Rivian Automotive Reportedly In Talks With Amazon To End Exclusivity

Amazon (AMZN) and Rivian Automotive Inc. are reportedly in talks to end an exclusive agreement originally signed in 2019. WSJ reported that Rivian has agreed to sell all vans it makes to Amazon. However, Amazon recently decided to buy only 10,000 vans this year which is at the low end of Rivian's projection. Hence the van maker decided to take out the exclusivity clause.

According to the report, Amazon is said to be committed to buying 100,000 vans by 2030.

Quoting FactSet, the WSJ said Amazon holds a 17 percent stake in Rivian the company.

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