Drone Footage Captures Accelerated Production Of Electric Vans At Rivian Factory
Portfolio Pulse from Anan Ashraf
Rivian Automotive Inc (NASDAQ:RIVN) is increasing production of its electric delivery vans, as seen in a recent drone video. The company has amended its exclusive deal with Amazon, allowing it to sell to other fleet operators. AT&T Inc (NYSE:T) plans to purchase Rivian EVs for its fleet starting in 2024. Despite the production ramp-up, Rivian's CFO Claire McDonough anticipates fewer deliveries to Amazon in Q4 due to the holiday period.
December 24, 2023 | 7:29 pm
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POSITIVE IMPACT
Rivian is accelerating the production of its electric delivery vans, which could indicate strong future sales, especially after revising its deal with Amazon to allow sales to other fleet operators.
The increased production of electric vans and the ability to sell to customers beyond Amazon could lead to increased revenue and growth for Rivian. However, the expected decrease in Q4 deliveries to Amazon might temper short-term stock performance.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
AT&T Inc plans to add Rivian electric vehicles to its fleet starting in 2024, indicating a new partnership and potential revenue stream for Rivian.
AT&T's commitment to purchase Rivian EVs for its fleet represents a new business opportunity for Rivian and could positively impact investor sentiment towards both companies in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70