Rivian Automotive Inc. (NASDAQ:RIVN) CFO Claire McDonough revealed on Wednesday that decreased deliveries of its electric delivery vans (EDV) to online retail behemoth Amazon.com Inc. in the fourth quarter had a detrimental impact on the EV manufacturer’s gross margin.
What Happened: McDonough noted that deliveries to Amazon represented only 8% of the company’s total revenue in the fourth quarter, a significant drop from 30% in the previous quarter. This decline in deliveries was anticipated, as Amazon restricts the intake of new commercial vans during peak delivery periods.
“We expect a more significant gap between production and deliveries in Q4 relative to prior periods,” the CFO had said in November. As predicted, the company …
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