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Rivian's next model is the midsize R2 SUV, due in mid-2026 at a starting price around $45,000. Image source: Rivian. Rivian's technology is a so-called "zonal" architecture, in which different ...
The new agreement sees Volkswagen invest $5.8 billion in Rivian as part of a 50 percent stake in ... R2 SUV with its targeted $45,000 starting price. ... Car and Driver’s 10 Best Cars through ...
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.
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.
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.
Under the terms of the agreement, Volkswagen will invest an initial $1 billion in Rivian with up to an additional $4 billion expected over the course of the partnership.
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 ...
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 ...