Amazon Unveils First Electric Delivery Van Built With Rivian - TheStreet

Amazon Unveils First Electric Delivery Van Built With Rivian

Amazon unveiled its first electric delivery van built with Rivian, part of the retailer's effort to have net zero carbon emissions by 2040.
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Amazon.com  (AMZN) - Get Report on Thursday unveiled its first electric delivery van built in partnership with electric-vehicle maker Rivian.

The introduction comes as the Seattle tech and online-retail colossus moves toward its commitment to produce net zero carbon emissions by 2040.

That commitment came as part of the company joining the Climate Pledge. Amazon said in a blog posting that 10,000 of its new vehicles will be on the road as early as 2022 and all 100,000 by 2030.

Amazon said it has two other vehicle models in the works.

This vehicle’s features include:

· “State-of-the-art sensor detection, a suite of highway and traffic assist technology, and a large windshield to enhance driver visibility.

· “Exterior cameras around the vehicle that are linked to a digital display inside the cabin, giving the driver a 360-degree view outside the vehicle.

· “Alexa integration for hands-free access to route information and the latest weather updates.

· “A strengthened door on the driver’s side for additional protection.

· “A ‘dance floor’ inside the driver’s cabin for easy movement inside the van.

· “Bright tail lights surrounding the rear of the vehicle to easily detect braking.

· “Three levels of shelving with a bulkhead door, which can easily be opened and closed for additional driver protection while on the road,” the company said.

Amazon recently traded at little changed near $3,178. The stock has soared 73% year to date.

Morningstar analyst R.J. Hottovy is bullish on the company. 

“Amazon's disruption of the retail industry is well documented, but it continues to find ways to evolve,” he wrote in a July report, citing “its operational efficiency, network effect, and a brand intangible asset.”

Hottovy puts fair value for the stock at $3,500.