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Outdoorsy in Talks for $100M EV Order

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RV rental company Outdoorsy is in talks with Rivian Automotive and Ford Motor Co. to order $100 million in electric trucks and SUVs over the coming years to build out its fleet.

Outdoorsy is aiming to order roughly 1,000 Rivian trucks, CEO Jeff Cavins said in an interview Friday, to add to its platform for renters and employees. Cavins described the two companies’ collaboration as a “logical and organic alignment,” given Outdoorsy’s focus on nature and camping, but said delivery of the trucks wouldn’t happen until 2023 if Rivian accepted the order. Cavins later added in a statement that Outdoorsy is also talking with Ford about fulfilling part of its order.

Austin, Texas-based Outdoorsy has seen a boom in demand during the pandemic, helping it surpass $1.5 billion in total sales, Cavins said. The company had previously been in advanced talks with a special purpose acquisition company, but instead decided to seek new financing.

“Last year, Outdoorsy was the only choice for travel. It was really us, and we got hit with a surge that we had a real hard time keeping up with,” he said. Demand has continued in 2021 even as air travel has rebounded, with Outdoorsy bookings up 145% year-over-year, and the company is forecasting further growth in 2022.

Read the full story from Michael Tobin with Bloomberg here.

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