RJ Scaringe, Rivian CEO: End of deal with Amazon, new features
November 08, 2023 at 01:13 pm EST
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(MT Newswires) -- Rivian Automotive Inc (RIVN) CEO RJ Scaringe explains that new orders are driving up the average selling price of its electric vehicles, and that the group plans to launch new autonomy-related features next year, which could generate additional revenue for the company. He talks about the end of the four-year exclusivity agreement with Amazon (AMZN) and the importance of the lithium and nickel supply chain.
Rivian Automotive, Inc. is an automotive manufacturer, which is engaged in developing and building category-defining electric vehicles (EVs) and accessories. The Companyâs R1 platform offers the first-generation consumer vehicles: the R1T, a two-row five-passenger pickup truck, and the R1S, a three-row seven-passenger sport utility vehicle (SUV). In the commercial market, the Company offers Rivian Commercial Vehicle (RCV) platform. The Companyâs vehicle on this platform is Electric Delivery Van (EDV), designed and engineered by Rivian in collaboration with Amazon. Alongside its commercial vehicles, it offers FleetOS, its proprietary, end-to-end centralized fleet management subscription platform. It also offers a variety of services, including financing and insurance, vehicle maintenance and repair, charging and FleetOS solutions. Its value-added services include digitally enabled financing and leasing, telematics-based insurance, proactive vehicle service, software services, and more.