Rivian stock plunges after news of Amazon-Stellantis . deal

Carlos Tavares Chairman of the Board of Directors of PSA Group and CEO of Stellantis Carlos Tavares answers questions from journalists after a private visit to the factory of the Dutch multinational automaker Stellantis , part of the PSA consortium in Douvrin, on July 2, 2021.

Denis Charlet | AFP | beautiful pictures

Stellantis, the automaker formerly known as Fiat Chrysler, said on Wednesday that Amazon will provide in-car dashboard software and cloud services. Amazon will also be the first commercial customer of Stellantis’ Ram ProMaster battery electric vehicle scheduled to launch in 2023.

The partnership between the two companies comes two months after Amazon-backed electric vehicles Rivian debut on Nasdaq. Rivian’s stock, which name is Amazon their favorite cloud service provider in December, and has a contract to build 100,000 vehicles for Amazon by 2030, fell as much as 9% in Wednesday’s trading. Shares of Stellantis were up 4% in late trading.

Stellantis has delivered tens of thousands of vehicles to Amazon since 2018 for last-mile deliveries in North America and Europe. Stellantis says it has developed the upcoming Ram ProMaster with input from Amazon.

Amazon and Stellantis will work together on STLA SmartCockpit software that will appear in millions of vehicles starting in 2024 as part of a multi-year cloud agreement, according to a new report. statement. The service will incorporate Amazon’s Alexa voice assistant, e-commerce, maintenance, navigation, and other elements. Stellantis says it will move the vehicle data pipeline to a cloud-based system, and Amazon Web Services will become their preferred cloud service provider for vehicle platforms.

Amazon’s market-leading AWS business has focused on industries in an effort to expand within large companies. In November Amazon disclosure AWS IoT FleetWise, a tool that car manufacturers can use to store and refine vehicle data.

CLOCK: Stellantis raises full-year target after strong first half despite global chip shortage


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