Amazon (AMZN) has begun testing Chevrolet (NYSE:GM) BrightDrop electric vans for its delivery fleet, putting pressure on shares of Rivian Automotive (RIVN).
The e-commerce giant confirmed to Bloomberg that, as part of its goal to have 100,000 EVs on the road by 2030, it is evaluating options beyond its existing fleet of Rivian (RIVN) delivery vans. That target suggests Amazon (AMZN) may look to diversify suppliers rather than rely solely on Rivian (RIVN).
Amazon (AMZN) originally struck a deal with Rivian (RIVN) in September 2019 to purchase 100,000 electric vans, a commitment paired with a “significant” investment in the EV maker. But so far, Rivian (RIVN) has delivered just 30,000 vehicles, with its CEO projecting a meaningful production ramp only by 2026–2027.
To bridge the gap, Amazon (AMZN) is testing vehicles from other automakers, including GM (NYSE:GM), Ford (F), Stellantis (STLA), and Mercedes-Benz (MBGAF, MBGYY).
For GM (NYSE:GM), winning an Amazon (AMZN) contract would mark a major boost for its young commercial EV business. The company folded its BrightDrop division into the GM Evolve unit last year, which supplies fleet vehicles to businesses and government agencies. BrightDrop vans, with a range of up to 272 miles, are already in use by FedEx (FDX) and several public-sector fleets.