Volkswagen invests $5B in Rivian, forming a joint venture for EV technology and development.

Volkswagen is investing $5 billion into electric vehicle maker Rivian, forming a joint venture to share EV architecture and software. The companies will develop "next generation" battery-powered vehicles and software. Rivian's shares surged by more than 50% in after-market trading after the announcement. The strategic tie-up provides Rivian with a much-needed source of fresh capital and helps Volkswagen gain access to Rivian's technology.

June 25, 2024
28 Articles

Further Reading