Key points
- Amazon to deploy 300 electric vans from Rivian in several areas across Germany
- Amazon shares close slightly lower on Monday
Amazon.com Inc (AMZN) said on Tuesday that it intended to roll out its first European vans from EV maker Rivian in Germany in the upcoming weeks.
300 electric vans are to be deployed in the Munich, Berlin and Dusseldorf areas as part of an order of 100,000 Rivian vehicles, which Amazon placed in 2019.
Amazon said it would roll out a specially-designed shorter, thinner van compared to its US counterpart, so that it could better fit European streets.
The e-commerce giant has invested over EUR 1 billion in its Europe fleet electrification.
The shares of Amazon.com Inc (AMZN) closed 0.11% ($0.14) lower at $130.22 on Nasdaq on Monday, after a 1.92% gain in the previous market session.
The company’s total market cap now stands at $1.336 trillion.
The shares of Amazon.com Inc went down 49.62% in 2022, compared with a 19.44% loss for the benchmark index, S&P 500 (SPX).
The e-commerce giant’s shares have risen 55.02% so far this year.
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