Rivian Unveils Partnership with Morgan Olson for Electric Delivery Vans

Rivian's Exciting Opportunity with New Electric Van Customer

With all the hype around Rivian's unveiled R2, many investors missed another customer for Rivian's electric van platform -- here's why it matters. The hype surrounding Rivian's (NASDAQ: RIVN) R2, R3, and R3X unveiling has overwhelmed investors recently. There's good reason for that. These more affordable electric vehicles (EVs) could unlock a wealth of demand from new customers, and could prove to be the company's defining moment on its way to profitability.

Pushing into Commercial

While investors may have been focused on the over 68,000 R2 reservations in less than 24 hours after the unveiling, one of the company's most critical stories will revolve around its electric van. That's simply because not only is Rivian still set to deliver 100,000 vans to Amazon by 2030, the ending of their exclusive partnership opens the door for similar customers.

What's the Big Deal?

Before we get to what makes the deal unique, let's cover the partnership details. Morgan Olson is a division of JP Poindexter & Co, which has been making vans since 1945, and now has been chosen to manufacture electric delivery vans for Canada Post. The kicker is that Rivian will supply the platform for those vans.

Setting up for 2025

Management has noted on conference calls that this year will be filled with pilot programs, testing, and negotiating, which could set 2025 up as a year when Rivian inks many commercial customer deals for its electric van.