Rivian and VW Forge $5.8B EV Alliance, Cars by 2027
TL;DR Summary
Rivian and Volkswagen have expanded their joint venture, with VW increasing its investment to $5.8 billion. This partnership will allow VW to utilize Rivian's software technology, while Rivian gains financial support and improved economies of scale. The joint venture, led by executives from both companies, aims to launch vehicles by 2027. Rivian's stock surged 9.45% following the announcement, despite a 55% drop in 2024, while VW's stock saw a slight decline.
- Rivian Jumps On Expanded Volkswagen Joint Venture; VW EVs As Early As 2027 Investor's Business Daily
- VW launches $5.8bn tie-up with Tesla rival Rivian BBC.com
- Inside VW and Rivian’s Big Bet to Rescue Each Other The Wall Street Journal
- Rivian-Volkswagen joint venture deal rises to up to $5.8 billion, VW cars expected as early as 2027 CNBC
- Rivian Stock Races Higher After The Bell: What's Going On? - Rivian Automotive (NASDAQ:RIVN) Benzinga
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