Reported 12 months ago
Rivian's stock price surged after receiving a significant investment from Volkswagen, with shares still down 43% in 2024. Volkswagen's investment includes up to $5 billion over three years and a 50/50 joint venture with Rivian to develop next-generation EV technology. The deal provides Rivian with much-needed cash to scale its business, improve margins, and continue production. Despite being high-risk, Rivian's partnership with Volkswagen and Amazon makes it more attractive for investors after the recent run-up.
Source: YAHOO