Rivian Secures $5.8B VW Investment
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future electric vehiclesReuters
•Rivian shares surge on $5.8 billion Volkswagen investment in JV
81% Informative
Volkswagen plans to invest $5.8 billion by 2027 as part of joint venture with Rivian .
Rivian and VW Group Technology LLC will integrate advanced electrical infrastructure and Rivian 's software technology for both companies' future electric vehicles.
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.
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