Volkswagen to invest up to $5 billion in EV maker Rivian as part of tech joint venture
- Volkswagen plans to invest $1 billion immediately in Rivian and establish a joint venture, with a potential total investment of up to $5 billion by 2026.
- The investment will be made through a note converting to stock on Dec. 1, subject to approvals, and a $1 billion payment is expected in Q4 2024.
80 Articles
80 Articles
Volkswagen to invest $5B in Rivian, form joint venture
German automaker Volkswagen will invest up to $5 billion in electric vehicle startup Rivian, the companies said on Tuesday.The two companies said they are seeking to develop "next-generation electric architecture and best-in-class software technology" for EVs through a planned joint venture.Volkswagen and Rivian said they ultimately intend to incorporate the technology from the joint venture into new vehicles that the companies plan to put out "…
Volkswagen Rescues EV Failure Rivian with $5 Billion Investment
Volkswagen and Rivian have announced a joint venture that will bring Rivian’s EV software expertise to VW’s product lineup. The $5 billion deal has provided a lifeline to Rivian, which has faced major financial problems this year.
Rivian just got a $5 billion investment from Volkswagen, and it could help Rivian solve one of its biggest problems
Rivian's R2 could be the lower-cost SUV model that consumers seem to be clamoring for. RivianVolkswagen will invest up to $5 billion in Rivian, an EV maker that's struggled with profitability.Rivian, which lost $1.4 billion in the first quarter, aims to develop a more affordable SUV. Rivian's new $45,000 SUV, the R2, set to launch in 2026, targets mainstream customers.Volkswagen just inked a deal to invest up to $5 billion in Rivian, the electri…
Volkswagen invests billions in US electric car manufacturer Rivian.
Volkswagen wants to develop its car software with US electric car manufacturer Rivian in the future and invest up to five billion dollars for it. VW's software subsidiary had problems time and again.
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