Reported 8 months ago
Rivian Automotive Inc. secures a financial boost through a partnership with Volkswagen AG, with an initial $1 billion investment from VW and a potential additional $4 billion over time. In return, VW gains access to Rivian's technology for EVs and collaborates on developing next-gen battery-powered vehicles. This alliance revitalizes Rivian amid production struggles and industry-wide EV demand slowdown, positioning it for growth while reshaping the EV market landscape.
Source: YAHOO