Rivian rallies after Amazon announces rollout of electric delivery trucks - InvestingChannel

Rivian rallies after Amazon announces rollout of electric delivery trucks

Customers across the U.S. will begin to see custom electric delivery vehicles from Rivian delivering their Amazon packages, with the electric vehicles hitting the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle, and St. Louis, among other cities, Amazon.com (AMZN) said in a statement. “This rollout is just the beginning of what is expected to be thousands of Amazon’s custom electric delivery vehicles in more than 100 cities by the end of this year – and 100,000 across the U.S. by 2030,” the company added. Amazon noted, “The vehicles are designed from the ground-up with safety, sustainability, and comfort in mind, and have been thoroughly tested by drivers across the country. They are the product of Amazon’s partnership with Rivian, which the companies announced in 2019 when Amazon co-founded, and became the first signatory of The Climate Pledge – a commitment to reach net-zero carbon across our operations by 2040.” Amazon has been testing deliveries with Rivian preproduction vehicles since 2021, delivering over 430,000 packages and accumulating over 90,000 miles. Shares of Rivian Automotive (RIVN) are up 4% to$34.07 in morning trading.

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