As Ford unloads Rivian, Amazon maintains faith in electric vehicle maker

Published by
The Seattle Times

Despite production delays and market upheaval, Amazon is still counting on electric vehicle startup Rivian to help it hit ambitious climate goals and put tens of thousands of electric delivery vans on the road. Rivian is running a lean operation: The number of vehicles it produced this quarter is almost exactly equal to the number of semiconductors it had, CEO RJ Scaringe said. Those tight margins have been spooking investors, a panic that came to a head Tuesday when Ford announced it was selling 8 million Rivian shares, starting to cut ties with the California-based company that promised to h…

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