US EditionVolkswagen to Increase Stake in Electric Car Maker Rivian, Automaker Prospers
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Volkswagen is continuing its partnership with the US company Rivian and is once again making a substantial payment. After Rivian achieved certain financial targets at the beginning of May, a second installment of one billion US dollars is now due. This sum corresponds to approximately 850 million euros. VW already transferred the same amount last year and has held approximately 8.6 percent of the Californian manufacturer since then. This stake i…
Volkswagen didn't make it on its own and, admittedly, Rivian might not make it on its own. So VW's money helps the American start-up, which will help VW at the same time and will deliver completely new electric car architectures. While Rivian's technology comes, VW will make the money loose. Rivian has to achieve its own economic key figures, only then will the money flow. At the change of month, the second payment becomes due, then another bill…
German automaker Volkswagen plans to increase its stake in U.S. electric vehicle maker Rivian, with another $1 billion payment scheduled for early next week. The increase in the share was contributed by the fact that Rivian met key financial goals, according to DPA. The latest payment is scheduled for Monday and is in the same volume as the first that VW paid last year. As a result, it currently controls an 8.6 percent stake in Rivian. The finan…
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