From CNBC: 2024-11-13 11:49:12

Volkswagen Group increases investment in joint venture with Rivian Automotive to $5.8 billion, impressing investors and boosting Rivian’s shares by nearly 20%. The joint venture will provide VW with next-gen EV technology and software, while Rivian receives needed capital for production ramp-up of R2 SUVs and midsize EV platform. Both companies have high expectations, but success is not guaranteed. VW is undergoing restructuring that could impact future plans. Rivian will receive investment from VW in various forms, totaling $5.8 billion by late 2027 or early 2028 based on milestones. Volkswagen will fund majority of shared platform costs until 2028, then gradually reduce Rivian’s share.



Read more at CNBC: What goals the EV maker must hit to receive $5.8 billion