Reported 15 days ago
Volkswagen AG has increased its investment in Rivian Automotive Inc. by $800 million, enhancing their multibillion-dollar partnership dedicated to developing battery-powered vehicles. The collaboration, aimed at creating advanced software-defined vehicles, comes amid a decline in global EV demand and potential policy changes under the upcoming Trump administration. Rivian's shares saw a rise following the announcement, and the joint venture expects to accelerate its plans for vehicle launches by 2027.
Source: YAHOO