Rivian

Amazon electric delivery vans hit the road across US

Amazon Rivian electric delivery van

Your next Amazon delivery may arrive in silence.

That’s because the massive marketplace on Thursday announced that its custom electric delivery vans from Rivian have officially hit the road in over a dozen U.S. cities, including Chicago, Dallas, Seattle, Baltimore, San Diego and Nashville, Tennessee.

After making the largest EV order ever, which included 100,000 vehicles, in 2019, it appears Amazon (NASDAQ: AMZN) is ready to cash in on its investment. This week, the e-commerce giant said it plans...

https://www.freightwaves.com/news/amazon-electric-delivery-vans-hit-the-road-across-us

Truck Tech: Summer jobs edition

Truck Tech logo on blue background

Layoffs get the headlines but a surprising number of electrification startups are adding employees even as they try to raise more money. Volvo is using two dealerships and a five new charging points to create a corridor in California. And the Diesel Technology Forum graphically shows once again that fossil fuels are still king in commercial transportation.

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Electrification startups are hiring

Record-hig...

https://www.freightwaves.com/news/transportation-startups-still-hiring-even-as-layoffs-get-the-attention

Canoo gets lifeline from Walmart in electric delivery van deal

Blue Canoo lifestyle delivery vehicle on blue background

Startup electric vehicle maker Canoo Inc., which said as recently as May there was “substantial doubt” about its survival. It appears safe for the moment thanks to Walmart’s purchase of 4,500 of its lifestyle delivery vehicles.

The announcement Tuesday morning before the opening bell on the Nasdaq sent Canoo (NASDAQ: GOEV) shares soaring. It more than doubled in price before falling back to a 53%, gain, closing at $3.63 Tuesday.

Walmart signed a definitive agreement with Canoo for its LDV with an...

https://www.freightwaves.com/news/canoo-gets-lifeline-from-walmart-in-electric-delivery-van-deal

Supply chain woes may delay EVs but delivery fleets can’t wait

Blue Rivian van on assembly line

Supply chain issues may be pushing back deliveries of electric vehicles, but that doesn’t mean last-mile delivery fleets looking to adopt can sit back and wait.

“Fleets may think they have plenty of time … but sometimes it will take one to two years for the infrastructure upgrades from the utility,” explained Greg Hintler, U.S. managing director for The Mobility House, an EV charging infrastructure company. “If you want to have electric vehicles in two years, you should have already started or...

https://www.freightwaves.com/news/supply-chain-woes-may-delay-evs-but-delivery-fleets-cant-wait

Amazon posts big net loss, drop in operating income

Amazon.com Inc. shares took an after-hours beating Thursday after the e-tailing giant posted a $3.8 billion first-quarter net loss, equal to $7.56 per diluted share, compared with an $8.1 billion profit in the 2021 quarter.

The bottom-line number was noisy, as it included a $7.6 billion pretax loss in the value of Amazon’s (NASDAQ: AMZN) stake in electric truck manufacturer Rivian Automotive Inc. (NASDAQ: RIVN). Rivian shares have plummeted since it went public last November, falling to the...

https://www.freightwaves.com/news/amazon-posts-big-net-loss-drop-in-operating-income

Borderlands: Asian firm to build $44M EV motor core factory in Mexico

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Asian firm to build $44M EV motor core factory in Mexico; Mexico requests USMCA resolution panel to settle dispute; East West manufacturing expands into Texas and Mexico; and CBP seizes fake AirPods, Nintendo consoles in Houston.

Asian firm to build $44M EV motor core factory in Mexico

Aiming for the growing U.S. electric vehicle (EV) market, South Korea-based Posco...

https://www.freightwaves.com/news/posco-to-build-ev-motor-core-factory-in-mexico

Investors hammer Rivian stock after Amazon, Stellantis deal

Rivian stock falls after Amazon Stellantis deal

The darling of the electric vehicle world at the end of 2021, Rivian is facing a hard reality in the new year after its shares have tumbled more than 20%, falling below its initial public offering price, since Wednesday.

Rivian (NASDAQ: RIVN) shares fell 11% on Wednesday following news of an Amazon agreement to purchase battery-electric Ram ProMaster vans from Stellantis. The stock had fallen as much as 16% in midmorning trading Thursday below its IPO price of $78 before clawing back some of the...

https://www.freightwaves.com/news/investors-hammer-rivian-stock-after-amazon-stellantis-deal

Rivian stake could be key to Ford’s EV success as it looks to topple Tesla

A fierce battle is raging between traditional carmakers and upstarts like Tesla to get the early lead in the electric vehicle race. Ford Motor Co. may hold the trump card though: a 12% stake in electric vehicle maker and Amazon-backed Rivian.

“We’re really excited about Rivian; it’s a great American company,” Ford CEO Jim Farley told CNBC’s Jim Cramer on the first edition of “Cramer’s Investing Club” on Thursday. “You can argue about what it’s worth versus what Ford is worth, but I really like...

https://www.freightwaves.com/news/rivian-stake-could-be-key-to-fords-ev-success-as-it-looks-to-topple-tesla

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