With the IPO comes disclosure

Rivian took a 1 billion dollar loss in the first 6 months of 2020 and is placing the IPO value at 80 billion.

The deal with Amazon that was touted as a order of 100,000 does indeed come out to be not as advertised.

The e-commerce giant will have exclusive rights to Rivian’s delivery vehicles for four years after receiving the first, and will have the right to first refuse to purchase the trucks for two years after that. Amazon has ordered 100,000 last-mile trucks by 2030, and the first 10,000 are due to be delivered this year.
But the filing shows that Amazon’s logistics unit has no obligation to purchase any Rivian electric delivery vehicles — and that it can still work with any other potential vehicle partners.

While the EDV agreement states that we will be compensated for some development costs, it does not include any minimum purchase requirements or restrict logistics from developing vehicles or cooperating with or procuring similar vehicles from third parties,” she said.

https://711web.com/rivian-details-1-...in-ipo-file-2/

The devil is always in the details.