Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Rivian stock plunges after news of Amazon-Stellantis deal

by
January 5, 2022
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Senators call on former Silicon Valley Bank, Signature Bank CEOs to testify

Ford’s EV business lost $2 billion in 2022, offset by big profits in fleet and legacy units

In this article

AMZN

RIVN

STLA-IT

Stellantis announced on January 5, 2022, a major partnership with Amazon to connect its vehicles, including using the US giant’s AWS servers and its Alexa voice command system.
Marco Bertorello | AFP | Getty Images

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

The collaboration between the two companies comes two months after Amazon-backed electric vehicle Rivian debuted on the Nasdaq. Shares of Rivian, which named Amazon its preferred cloud provider in December and has a contract to make 100,000 vehicles for Amazon by 2030, fell as much as 9% in Wednesday’s trading session. Stellantis shares were up 4% in late-day trading.

A Rivian R1T electric pickup truck during the company’s IPO outside the Nasdaq MarketSite in New York, U.S., on Wednesday, Nov. 10, 2021.
Bing Guan | Bloomberg | Getty Images

Stellantis has already delivered tens of thousands of vehicles to Amazon since 2018 for last-mile delivery in North America and Europe. Stellantis said it developed the forthcoming 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 deal, according to a statement. The service will incorporate Amazon’s Alexa voice assistant, e-commerce, maintenance, navigation and other elements. Stellantis said it will move its vehicle data pipeline to a cloud-based system, and that Amazon Web Services will become its preferred cloud provider for vehicle platforms.

Amazon’s market-leading AWS business has sharpened its focus on industries in an effort to expand inside large companies. In November Amazon unveiled AWS IoT FleetWise, a tool automakers can use to store and refine vehicle data.

WATCH: Stellantis ups full-year target after strong first half despite global chip shortage

ShareTweetPin

Related Posts

Senators call on former Silicon Valley Bank, Signature Bank CEOs to testify

by
March 23, 2023
0

In this article SBNYSIVB Follow your favorite stocksCREATE FREE ACCOUNT U.S. Sen. Sherrod Brown (D-OH) speaks to members of the...

Ford’s EV business lost $2 billion in 2022, offset by big profits in fleet and legacy units

by
March 23, 2023
0

In this article F Follow your favorite stocksCREATE FREE ACCOUNT The badge of a Ford Motor Co. E-Transit electric vehicle...

Retirement vs. emergency savings: How to prioritize in a shaky economy

by
March 23, 2023
0

Jamie Grill | Getty Images When you're on a tight budget, It can be tough to decide between contributing to...

These beaten-down bank stocks have strong deposit bases and are well liked by analysts

by
March 23, 2023
0

Bank stocks have been pummeled in recent weeks amid the ongoing crisis centered around regional banks -- but Wall Street...

Request for Bragg’s testimony on Trump probe is ‘unprecedented,’ Manhattan DA’s office tells GOP

by
March 23, 2023
0

District Attorney Alvin Bragg arrives at the office of District Attorney, after a message was posted on the Truth Social...

Next Post

New products put Apple on track for $4 trillion valuation

23 dividend stocks that can pass this strict quality screen

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com