Rivian shares jumps 16% as Volkswagen Boosts Investment in Expanded EV Partnership
Rivian's ( RIVN, Financial) shares soared 16% on Wednesday after the company announced plans to form a deeper partnership with Volkswagen ( VWAGY, Financial ). Volkswagen intends to raise its stake in the joint venture with Rivan and take its total investment up to $5.8 billion from $5 billion.
VW's capital to Rivian isn't guaranteed, and neither is the success of the joint venture. Major automotive tie-ups don't ...
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Last June, VW said it would invest $5 billion in Rivian as part of a new joint venture that’s focused on developing a new ...
The venture will be jointly run by Rivian's Chief Software Officer, Wassym Bensaid, and Carsten Helbing, Volkswagen Group's ...
Republicans have long opposed the $7,500 federal tax credit for electric vehicles contained in the Inflation Reduction Act.
The two companies say the deal is now worth $5.8bn (£4.55bn) - up from an initial pledge from VW of $5bn. Shares in the US ...
The new technology and platforms will be used to support international EV markets. Rivian and VW Group Technology, LLC ...
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“The VW Group was always keen to participate in the EV policy as it allows import of acertain number of battery electric ...
To attract more foreign investment and advanced technology, Tesla opened its Shanghai factory in 2019 as the first wholly ...
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