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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 ... Car and Driver’s 10 Best Cars through the Decades.
A joint venture between U.S. electric pickup and SUV maker Rivian and Volkswagen is in talks with other automakers about supplying their software and electrical architecture, a senior Rivian ...
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
The Volkswagen investment in Rivian is expected to lower the latter's average cost to produce each EV. In addition, the companies believe that technology innovation will be sped up through the deal.
This $1 billion investment was expected to result in production of about 150,000 cars a year by its slated opening in 2011, playing a major role in the company's strategy to gain more than 6% of the car market, or about 800,000 cars on top of the 230,000 it produced in America in 2007, by 2018.
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.