The probable dispute would jeopardize Rivian’s delivery van contract with Amazon.Com, Inc. (NASDAQ: AMZN), the report added.
Rivian alleged in a lawsuit that Commercial Vehicle Group, a New Albany, Ohio-based auto parts manufacturer, threatened to stop supplying seats unless the carmaker agreed to pay twice the price.
The suit involves supplies of vehicle components such as the driver seat, jump seat, and trim used for battery-powered vans Rivian is building for Amazon.
Price Action: RIVN shares closed lower by 6.89% at $24.86 on Monday.
Photo via Company
See more from Benzinga
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.