In November 2021 as a self-proclaimed Tesla– Rival on the stock exchange started spectacularly, Rivian crashed again just as quickly. Within a few months, the value of the share had halved, also because Rivian needed much longer to bring its electric vehicles to market. A planned joint venture also fell through
with Mercedes Benz. More than four fifths of the stock market value of once 100 billion dollars (92 billion euros) have burned. On Monday, Rivian surprised with positive news for the first time in a long time.
Rivian reported 12,640 vehicle deliveries for the second quarter, beating analysts’ expectations of 11,000 vehicles. The increase corresponds to noisy CNBC
an increase of 59 percent over the previous quarter. Rivian shares jumped more than 17 percent on the New York Stock Exchange on Monday.
Amazon brings electric delivery vans from Rivian to Germany
Cars from Rivian should soon also be in Germany to be seen more often. Then Amazon brings the Tesla competitor’s electric delivery vans, specially developed for the world’s largest online retailer, to Germany. In the coming weeks, more than 300 vehicles will be on the road in Munich, Berlin and Düsseldorf, as both companies announced on Tuesday night.
Amazon wants to use up to 100,000 Rivian delivery vans by 2030 – a kind of life insurance for the electric car start-up. The retail giant also took a stake in the electric car company with the 2019 deal and currently holds 17 percent of the shares in the electric car manufacturer. Value corrections on the share after delays in the production of Rivian models in recent months have repeatedly impacted Amazon’s balance sheet.
In the USA Rivian’s delivery vans have been introduced into Amazon’s fleet since last summer. According to the company, more than 3,000 of the vehicles are in use there. A shorter and narrower version of the van has been developed for European cities, it said.