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Rivian Automotive, Inc., is an American electric vehicle manufacturer and automotive technology and outdoor recreation company founded in 2009. Rivian produces an electric sport utility vehicle (SUV), a pickup truck on a "skateboard" platform that can support future vehicles or be adopted by other companies, and an electric delivery van, the Rivian EDV. [6]
Electric vehicle (EV) maker Rivian (NASDAQ: RIVN) said late Tuesday that it closed a hugely important deal, in which giant Volkswagen (OTC: VWAGY) will invest billions in the California-based upstart.
The new agreement sees Volkswagen invest $5.8 billion in Rivian as part of a 50 percent stake in the joint venture focused on developing vehicle software.
Volkswagen will initially invest $1 billion in the company in the form of a convertible note, which will convert to Rivian shares once it receives regulatory approvals, but not before Dec. 1, 2024.
Rivian is an electric car company that has been selling vehicles since 2021. This is a list of their production and prototype vehicles. This is a list of their production and prototype vehicles. Production vehicles
This is how it breaks down: Volkswagen will invest $1 billion in Rivian in a note that will eventually convert to stock. Volkswagen will then make a $1 billion payment at the creation of the joint ...
For the 2009 model year, VW introduced a new generation of diesels, based on common rail technology. These would meet air pollution standards in all 50 states. The first of these units was made available for sale in August 2008. VW sold 2050 Jetta Sedan TDIs and 361 Jetta Sportwagen TDIs that first month.
But as part of the deal, Volkswagen will take a $1 billion equity stake in Rivian, invest an additional $2 billion in Rivian shares in 2025 and 2026, and put $2 billion into the joint venture ...