The electric van wars are heating up
CNN
Major automakers are coming out with electric cars and SUVs that could, one day, threaten Tesla's dominance in that field. But there's a big fight brewing in another electric vehicle market where Tesla doesn't even play. Electric work vans.
Electric vans present a big opportunity because of two concurrent trends. Demand for vans is increasing as Americans having gotten used to having stuff delivered to their homes and companies, including online retailers and automakers, are working to lower their carbon emissions.
In terms of startup competition, established automakers aren't taking on Tesla but Rivian, the $50 billion electric truck and SUV-maker with a huge built-in customer. Amazon, an early investor that maintains a roughly 20% stake in Rivian, gave the then-fledgling EV titan a big boost early on by placing an order for 100,000 electric Rivian cargo vans.
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