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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.
Despite the recent price gains, the stock is still down nearly 43% in 2024. Let's look at the importance of this investment, how it could help Rivian, and if it is too late to buy the stock ...
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 ...
Rivian said it has closed a major deal with Volkswagen that could be worth $5.8 billion by 2028.
The investment boost comes at a crucial time for Rivian, which aims to cut costs, achieve profitability, and launch its smaller, more affordable R2 SUV to attract budget-conscious consumers. The ...
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 ...
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