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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.
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.
In exchange, Volkswagen will invest an initial $1 billion in Rivian through an “unsecured convertible note that will convert into Rivian’s common stock,” with up to $4 billion in additional ...
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 ... Car and Driver’s 10 Best Cars through the Decades.
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 ...
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rivian Automotive wasn’t one of them. The 10 stocks that made ...
Rivian stock closed Tuesday at $11.96 a share, down roughly 49% in 2024. The initial $1 billion from Volkswagen will be in the form of a convertible note, which could be converted to Rivian shares ...
Shares of Rivian soared 40% before markets opened Wednesday after Volkswagen vowed to invest $1 billion in the struggling electric vehicle maker immediately, and a potential total of up to $5 ...