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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.
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.
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.
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.
Vehicle description Introduction Update/facelift; Pickup Truck: R1T: R1T: 2021 2021 2025 Electric Pickup Truck SUVs: R1S: R1S: 2022 2022 2025 [1] Electric SUV based on the Rivian R1T: R2: R2: 2026 2026 - Electric Mid-size SUV [2] R3: R3 [3] 2026 2026 - Small Electric SUV R3X: R3X: 2026 2026 - Off-Road Capable version of the R3 [4] Delivery Van ...
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 ...
Volkswagen I.D. R rear view. The Volkswagen I.D. R also known as Volkswagen I.D. R Pikes Peak, is a prototype fully electric vehicle designed as part of Volkswagen's I.D. Project, and included within Volkswagen's R series of cars designed specifically for competing in motorsport events. [2] It is the first electric racing car designed by ...
(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.