The Rivian share crashes after the information of the Amazon-Stellantis deal

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Stellantis, the automaker formerly known as Fiat Chrysler, said on Wednesday that Amazon will deploy its dashboard software and cloud services for the car. 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 the Amazon-backed Rivian electric vehicle debuted on the Nasdaq. Shares in Rivian, which Amazon named its cloud provider of choice in December and has a contract to manufacture 100,000 vehicles for Amazon by 2030, fell 11% in Wednesday’s trading session. Stellantis shares rose 0.3%.

“We always knew our ambitious sustainability goals would require multiple electric delivery vendors in our last mile activity,” an Amazon spokesman told CNBC in an email. “We continue to enjoy our relationship with Rivian and it doesn’t change our investment, collaboration, or order size and schedule.”

Stellantis has already delivered tens of thousands of vehicles to Amazon for the last mile in North America and Europe since 2018. Stellantis said it developed the upcoming Ram ProMaster with input from Amazon.

A Rivian R1T electric pickup truck during the company’s initial public offering in front of the Nasdaq MarketSite in New York, United States, on Wednesday, November 10, 2021.

Bing Guan | Bloomberg | Getty Images

According to a statement, Amazon and Stellantis will work together on the STLA SmartCockpit software as part of a multi-year cloud deal, which is expected to appear in millions of vehicles from 2024. The service will include Amazon’s voice assistant Alexa, e-commerce, maintenance, navigation and other elements. Stellantis said it will migrate its vehicle data pipeline to a cloud-based system and that Amazon Web Services will be its preferred cloud provider for vehicle platforms.

Amazon’s market leading AWS business has sharpened its focus on industries to expand into large companies. In November, Amazon AWS IoT introduced FleetWise, a tool that automakers can use to store and refine vehicle data.

CLOCK: Stellantis increases annual target after strong first half year despite global chip shortage

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