Rivian’s stock price plummeted after the news of the Amazon-Stellantis deal came out

Stellantis announced on January 5, 2022 a major partnership with Amazon to connect its vehicles, including the use of the American giant’s AWS server and its Alexa voice command system.

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StellantisThe automaker formerly known as Fiat Chrysler said on Wednesday that Amazon will provide its in-vehicle dashboard software and cloud services. Amazon will also become the first commercial customer of the Ram ProMaster battery electric vehicle that Stellattis plans to launch in 2023.

The cooperation between the two companies is two months after Amazon-backed electric cars Rivian Debut Nasdaq. Rivian’s stock, of which Amazon Its preferred cloud service provider signed a contract with Amazon to produce 100,000 cars by 2030 in December, but it fell by 9% during Wednesday’s trading hours. Stellantis shares rose 4% in late trading.

On Wednesday, November 10, 2021, the Rivian R1T electric pickup truck will be listed off the Nasdaq Market website in New York, USA.

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Since 2018, Stellattis has delivered tens of thousands of vehicles to Amazon for last-mile deliveries in North America and Europe. Stellantis said it developed the upcoming Ram ProMaster with the investment of Amazon.

Amazon and Stellattis will collaborate to develop STLA SmartCockpit software as part of a multi-year cloud transaction that will appear in millions of cars starting in 2024. statementThe service will incorporate elements such as Amazon’s Alexa voice assistant, e-commerce, maintenance, and navigation. Stellantis said it will transfer its vehicle data pipeline to a cloud-based system, and Amazon Web Services will become its preferred vehicle platform cloud provider.

Amazon’s market-leading AWS business has increased its focus on the industry in order to expand within large companies. November Amazon Unveil AWS IoT FleetWise, a tool that automakers can use to store and optimize vehicle data.

watch: Despite the global chip shortage, after the strong first half of the year, Stellattis raised its full-year target