Rivian-Volkswagen joint venture deal rises to up to $5.8 billion, VW cars expected as early as 2027
Publishing timestamp: 2024-11-12 18:28:26
Summary
Rivian Automotive and Volkswagen Group increase joint venture size to $5.8 billion, with first VW models using Rivian's software and electrical architecture set to arrive as early as 2027. Shares of Rivian were up by more than 6% during after-hours trading. Volkswagen Group CEO expects to use Rivian's technologies across a wide range of brands and markets. Joint venture deal expected to close in the fourth quarter.
Sentiment: POSITIVE
Keywords: autos, rivian automotive inc, electric vehicles, joint ventures, breaking news: business, volkswagen ag, transportation, business, business news,
Source: https://www.cnbc.com/2024/11/12/rivian-volkswagen-joint-venture.html