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Amazon Benefitted from Rivian Vans Deployment

On Monday, Amazon stock price rose after hours after it deployed its vans in Europe from the US electric vehicle (EV) maker, Rivian.

It went down by -0.11% to $130.22 per share on July 03. However, it is expected to increase by 0.13% to $130.39 apiece in the upcoming session.

The e-commerce giant said that 300 of its electric vans will roll out in Munich, Berlin, and Dusseldorf regions. It was part of the 100,000-vehicle order from Rivian in 2019.

Both companies will utilize a shorter and thinner van than their US counterpart to be more suitable for European cities. Moreover, Amazon committed over $1.10 billion to electrify its European force.

Last year, it began using Rivian vans in the US. Now, it has over 3,000 vans used for deliveries in more than 500 cities and regions in America. The firm aims to have 10,000 vehicles in its company by 2030.

Furthermore, by decreasing delivery-related emissions, Amazon wants to reach net-zero carbon by 2040. In 2022, they delivered over 45 million packages in Germany using electric vans and e-cargo bikes.

With the help of Rivian, they could deliver packages more sustainably to more customers. Besides, the EV maker used test feedback to improve its vehicles’ performance and durability.

Prime Event of Amazon Offers Consumer Savings

For their two-day Prime event, Amazon would offer customers savings before and during the event. Also, it would provide deals in the online outlet’s annual sale.

The deal is offered to Prime loyalty members from July 11 to July 12 2023. Moreover, it said that consumers would receive a $5.00 credit for the event through a $50.00 gift card purchase.

Furthermore, Amazon has a 30-day free trial for Prime. Additionally, they can Prime Try Before You Buy. It would allow them to choose six items, only pay for what is kept, and have free returns.

Analysts said customers could apply for Amazon Prime Visa Credit Card before July 26 and receive a $200.00 gift card. However, they should pay credit cards on time to prevent late fees.

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