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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 German automaker agreed in November to invest $5.8 billion in the joint venture, which will integrate advanced electrical infrastructure and Rivian's software technology for both companies ...
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.
Analysts see the joint venture between VW and Rivian as shoring up many concerns about the U.S. EV maker's challenges. Rivian gets big boost from $5.8 billion Volkswagen investment in joint ...
Rivian said it has closed a major deal with Volkswagen that could be worth $5.8 billion by 2028.
The electric vehicle (EV) industry has not been particularly kind to investors, especially those who bet on Rivian Automotive (NASDAQ: RIVN). Its shares have lost around 90% of their value since ...
Irvine-based Rivian got a big boost: Volkswagen agreed to invest up to $5 billion in a joint venture with the struggling maker of electric trucks.
(Reuters) -Shares of Rivian jumped over 15% on Wednesday after the electric vehicle maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture.