Amazon, Rivian in discussions to drop exclusivity part of van deal, WSJ says

Amazon (AMZN) and Rivian (RIVN) are in discussions to abandon the exclusivity part of their electric van agreement, after the tech giant’s order for 2023 came in at the low end of a previously provided range, the Wall Street Journal’s Sean McLain, Dana Mattioli, and Nora Eckert report, citing people familiar with the matter. Under the terms of a 2019 pact, Rivian is required to sell all of the vans it makes to Amazon, though recently Amazon notified Rivian it sought to purchase roughly 10,000 vans this year, which was the low end of the previously communicated range, the authors say. In response, Rivian is aiming to remove the exclusivity terms, which would allow it to sell such vans to other customers, the authors say, noting that talks are ongoing. Reference Link