{"id":31312,"date":"2023-07-04T13:39:06","date_gmt":"2023-07-04T17:39:06","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/amazon-rolls-out-rivians-electric-vans-in-europe-ev-sector-is-accelerating\/"},"modified":"2023-07-04T13:39:08","modified_gmt":"2023-07-04T17:39:08","slug":"amazon-rolls-out-rivians-electric-vans-in-europe-ev-sector-is-accelerating","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=31312","title":{"rendered":"Amazon Rolls Out Rivian&#8217;s Electric Vans in Europe. EV Sector Is Accelerating."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000685263\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Rivian Automotive<br \/>\n       was given another boost Tuesday as<br \/>\n        Amazon<br \/>\n       said it would soon roll out its first European delivery vans from the U.S. electric vehicle start-up.<\/p>\n<p>Shares in the truck maker have struggled this year, but they soared 17% to $19.56 Monday after the company\u2019s production rose more than 200% year over year in the second quarter and sales increased by around 180%. The stock is now 6% up so far in 2023, having climbed 45% in the past five trading sessions.<\/p>\n<div class=\"paywall\">\n<p>\n        Amazon<span>\u2019s<\/span><br \/>\n       (ticker: AMZN) announcement was largely expected after it pledged to order 100,000 vehicles from Rivian (RIVN) in 2019. It is also the EV company\u2019s biggest shareholder. But it\u2019s still a significant milestone and is another encouraging sign when it comes to EV adoption globally\u2014especially after strong deliveries for<br \/>\n        Tesla<br \/>\n       (TSLA) and BYD (1211.Hong Kong) last quarter.<\/p>\n<p>The tech giant said more than 300 Rivian electric vans will be rolled out across Germany in Munich, Berlin, and Dusseldorf in the coming weeks, as it reiterated its plan to have 100,000 of the U.S. EV maker\u2019s delivery vans on the road globally by 2030.<\/p>\n<p>\u201cAmazon is committed to reaching net-zero carbon by 2040, and reducing our delivery-related emissions is a critical part of that goal,\u201d the company\u2019s country manager for Germany, Rocco Br\u00e4uniger said in a statement Tuesday.<\/p>\n<p>The custom delivery vans are shorter and thinner than their U.S. counterparts, to better fit European roads, Amazon said. It began rolling out Rivian vans in the U.S. in July last year.<\/p>\n<p>Mizuho analysts, led by Vijay Rakesh, said better adoption of its delivery vans with \u201cstrong traction from Amazon and adoption from other last-mile delivery providers,\u201d was an upside risk for the stock, in a note last month. <\/p>\n<p>The analysts\u2019 upside case sees Rivian shares heading to $50, while their base-case target price is $27\u2014highlighting the potential of the Amazon partnership. A faster production ramp up, and outpacing new entrants such as Tesla\u2019s Cybertruck,<br \/>\n        General Motors<br \/>\n        General Motors<br \/>\n      \u2018 (GM) Hummer, and<br \/>\n        Ford<span>\u2019s<\/span><br \/>\n       (F) F-150 are other factors in the upside scenario.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/rivian-stock-amazon-ev-electric-van-europe-2758cec6?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rivian Automotive was given another boost Tuesday as Amazon said it would soon roll out its first European delivery vans from the U.S. electric vehicle start-up. Shares in the truck maker have struggled this year, but they soared 17% to $19.56 Monday after the company\u2019s production rose more than 200% year over year in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-31312","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amazon Rolls Out Rivian&#039;s Electric Vans in Europe. 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