Rivian teases further expansion into commercial EV market

According to CEO RJ Scaringe, Rivian Automotive is working on a broader range of electric commercial cars in a variety of designs and anticipates producing millions of EVs annually at numerous factories after 2030 and beyond.

In a conversation with Reuters ahead of Rivian’s unveiling of the large EDV-700 delivery van with Amazon, Scaringe said, “There will be a host of other applications in the commercial space.”

These vehicles will reportedly be based on the RCV platform, which serves as the foundation for the Amazon van Rivian constructs in Normal, Illinois.

Amazon is Rivian’s largest stakeholder with a 20% share. By 2025, Amazon has committed to purchasing 100,000 electric delivery vans. However, Rivian won’t be Amazon’s only auto supplier. The eCommerce giant also has agreements with Stellantis and Mercedes-Benz.

Rivian has failed to reach its manufacturing targets for the R1T pickup and R1S utility vehicle. The company also recently announced that it had postponed some plans, including the R1S’s introduction in other countries, and could reduce its headcount to cut costs.

Rivian reported $16 billion in cash at the end of the first quarter, but analysts fear that Rivian’s spending will deplete its cash quickly. A smaller family of commercial EVs may be in production soon as the R2 electric crossover starts production in 2025 at a new Georgia plant worth $5 billion.