Irvine-based Rivian Automotive Inc. (Nasdaq: RIVN) has stopped production on its commercial delivery van order for Amazon due to a shortage of parts, Reuters reported on Friday.
The temporary halt affects the van production at Rivian’s Normal, Ill. manufacturing facility and no other Rivian vehicles.
Shares are down 3.7% to $13.26 with a $13 billion market cap during midday trading.
Amazon is the EV maker’s largest investor with a 16% stake. The e-commerce giant’s order includes 100,000 electric delivery vans deployed by 2030.
“We expect to recover all missed production,” a Rivian spokesperson told Reuters.
Rivian’s production forecast for 2024 is 57,000 vehicles total, flat compared to 2023. The company produced 9,612 vehicles in the second quarter, in line with expectations, according to Rivian.
