Rivian Automotive, an electric vehicle startup, partners with Volkswagen for $5B funding, despite a $1.4B Q2 loss.
Rivian Automotive, an electric vehicle startup, may be a risky yet promising investment option. Despite a $1.4 billion loss in Q2, it has implemented cost-cutting measures, reducing material costs by 35%. The company partnered with Volkswagen for up to $5 billion in funding, boosting production plans for its upcoming R2 and R3 models. While customer satisfaction is high, investing in Rivian carries risks, particularly for those without diversified portfolios.
September 03, 2024
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