Volkswagen Becomes Rivian’s Top Shareholder, Displacing Amazon
The milestone-triggered purchase lifts Volkswagen to 209.8 million shares and leaves about $2.5 billion still to invest under the Rivian deal.
- On Monday, Volkswagen Group filed SEC documents revealing it purchased 62.9 million Rivian shares, becoming the EV startup's largest shareholder with a 15.9% stake, surpassing Amazon's approximately 11.8%.
- Driven by Cariad's software challenges, Volkswagen formalized the $5.8 billion investment agreement in November 2024 after years of delays and cost overruns forced the automaker to outsource core vehicle development.
- Prototype vehicles from Audi and Scout Motors passed testing of production-intent zonal architecture, unlocking this $1 billion tranche and clearing the way for first VW models running Rivian software in 2027.
- The capital injection extends Rivian's runway without forcing dilutive capital raises, though Amazon's stake has eroded to under 12% entirely through share dilution. Rivian recently began R2 production at its Normal, Illinois plant.
- With roughly $2.5 billion in remaining commitments tied to future milestones, Rivian continues investing heavily in autonomy and pushing profitability past 2027. The company is expected to begin delivering its mid-sized SUV in the coming weeks.
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Volkswagen has displaced Amazon as the largest Rivian shareholder and is massively expanding its influence on the US electric car manufacturer. Behind the billion-dollar deal is a strategic alliance.
Volkswagen is investing billions in the Tesla rival Rivian, whose electronics architecture is to use future electric cars from Wolfsburger. This increases the Group's role in the US company.
saarbruecker-zeitung.de
HandelsblattVolkswagen is investing billions in the Tesla rival Rivian, whose electronics architecture is to use future electric cars from Wolfsburger. This increases the Group's role in the US company.
Volkswagen overtakes Amazon as Rivian's largest shareholder with 15.9% stake after $1B software milestone payment
When Rivian went public in November 2021, Amazon owned 20 per cent of the company. It had backed the electric vehicle startup with a 700 million dollar cheque in 2019, ordered 100,000 electric delivery vans, and watched its investment surge to more than 15 billion dollars on Rivian’s first day of trading. Four years later, […] This story continues at The Next Web
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