Rivian’s Amazon delivery vans are coming to Deutschland and taking your inventory for a joyride. The company Announced that more than 300 The electric vans will be delivered in several German cities, including Munich, Berlin, and Dusseldorf. youhe newyes, along with its promising second quarter results, made the stock price go up more than 14% on Monday (July 3). Today (July 5), the stock market has risen 3.9% in pre-market trading.
The public debut of the electric carmaker in November 2021 was one for the books, when overcome General Motors (GM) and Ford in market capitalization. But since hitting that early peak, the stock has been falling, losing about 90% of its November 2021 value. like Rivian repeatedly did not meet expectations due to production problems and other supply chain problems. Last month, Rivian was dropped by him Nasdaq 100 due to its decreasing value during the months of off Profits.
Still, analysts have strongly believed that Rivian is on the verge of becoming one of the main players over the next decade, along with the likes of EV manufacturers Fisker and Lucid. According youor Jordan Levy, analyst at Trust ValuesDelivering on Amazon helps Rivian not only on the brand recognition front, but also in the accumulation of data through those deliveries that can inform the company software.
Chart: Rivian stock rises and falls over the past year
Rivian’s Amazon and other orders, in digits
100,000: Vans Amazon, Rivian’s largest shareholder and biggest customer, has ordered delivery by the end of the decade.
3,000: The Rivian vans that Amazon has already rolled out in US cities
10,000: How many vans Rivian said it would deliver to Amazon late last year, but then missed the target
13,992: Rivian’s production at its Normal, Ill., factory in the quarter ending June 2023 topped Wall Street estimates of closer to 11,000
12,640: Vehicles Rivian delivered to customers in the second quarter, compared to 4,401 in the same quarter of 2022
50,000: Rivian vehicles doubled its production this year, more than double the production of a year ago
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