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Rivian Stock Drops as Amazon Explores Alternative Electric Van Suppliers
Rivian Stock Drops as Amazon Explores Alternative Electric Van Suppliers
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BTCCSquare news:
Rivian Automotive's shares declined 3.1% in afternoon trading following reports that Amazon is evaluating electric vans from General Motors as a potential alternative. The e-commerce giant, which initially committed to 100,000 Rivian-made delivery vehicles by 2030, now appears to be diversifying its fleet with small numbers of GM BrightDrops and other manufacturers' models.
Amazon reaffirmed its 100,000-vehicle target but notably omitted any Rivian exclusivity in its statement. The strategic shift comes as Rivian faces mounting financial challenges, despite having already deployed half of the promised vehicles. Market observers note this development could fragment what was originally envisioned as a transformative deal for the EV startup.
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