Rivian In Contract Dispute With Seat Supplier, Prompting Drop In Share Price | Carscoops carscoops
Rivian has filed a lawsuit against auto parts manufacturer Commercial Vehicle Group due to an issue regarding the supply of seats.in March against Commercial Vehicle Group states that the Ohio-based supplier had threatened to stop supplying seats for Rivian’s all-electric Amazon van if the car manufacturer did not pay “approximately twice the agreed-upon price.”Word of the lawsuit only just went public, prompting Rivian shares to drop almost 7 percent on Monday.
Commercial Vehicle Group supplies Rivian with the driver seat, jump seat, and various pieces of trim for the Amazon van. It’s important that Rivian doesn’t face too many snags in the production of the van as it is contracted to supply Amazon with 10,000 of them by the end of this year. All up, Amazon has ordered 100,000 vans from Rivian.
Commercial Vehicle Group denies violating its supply contract for Rivian and says it was under no obligation to supply the seats at the lower price. The supplier also claims it only raised prices after
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Rivian's Shares Sink After a Report a Legal Battle With a Supplier Could Delay Amazon VansRivian’s suit accuses Ohio-based Commercial Vehicle Group of violating its contract with Rivian by sharply raising its prices after the contract was signed.
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