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.
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VW and Rivian Announce $5.8 Billion Joint VentureAccording to Rivian CEO RJ Scaringe, the new capital will help carry the company through R2 production at its existing ...
Rivian initially planned to manufacture this model in Georgia, before it paused construction of the company's second ...
Additionally, the partnership is anticipated to provide the necessary capital for the R2 ramp and the Georgia plant’s ...
Volkswagen Group raised its investment in Rivian by 16% to $5.8 billion, the two automakers said on Tuesday, as the companies ...
Normal's largest manufacturer, is one of many firms scrambling to figure out how to adjust to a higher tariff environment ...
Rivian Automotive (RIVN) surges on joint venture details with Volkswagen Group (VLKAF) and optimistic analyst forecasts for ...
Volkswagen and Rivian have created a joint venture to help save both. This comes at a time when electric vehicle sales have ...
In March, Rivian announced that the downsized R2 SUV will also be built, at least initially, in Normal, putting plans for a ...
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