Rivian and VW Forge $5.8B EV Alliance, Cars by 2027
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.