Rivian Stock Jumps. The EV Maker Is Getting More Cash From Volkswagen. -- Barrons.com

Dow Jones11-13

Al Root

Rivian Automotive is getting more cash from Volkswagen, sending shares of the electric-vehicle company higher in after-hours trading Tuesday.

VW and Rivian agreed to a partnership in June that could provide the EV start-up with some $5 billion in capital in the coming years.

On Tuesday, the pair announced the amount could rise to about $5.8 billion.

Rivian stock was up 3.8% in after hours trading at $11.10 a share.

Rivian stock closed at $10.58 in regular trading Tuesday, down more than 4%, while the S&P 500 and Dow Jones Industrial Average were off 0.3% and 0.9%, respectively.

Through Tuesday trading, Rivian stock was down about 55% year to date. Slowing EV sales have weighed on investor sentiment within the sector.

This is breaking news. Check back for more updates soon.

Write to Al Root at allen.root@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

November 12, 2024 16:26 ET (21:26 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The EV Maker Is Getting More Cash From Volkswagen. -- Barrons.com","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  Al Root \n</p>\n<p>\n  Rivian Automotive is getting more cash from Volkswagen, sending shares of the electric-vehicle company higher in after-hours trading Tuesday. \n</p>\n<p>\n     VW and Rivian agreed to a partnership in June that could provide the EV start-up with some $5 billion in capital in the coming years. \n</p>\n<p>\n     On Tuesday, the pair announced the amount could rise to about $5.8 billion. \n</p>\n<p>\n     Rivian stock was up 3.8% in after hours trading at $11.10 a share. \n</p>\n<p>\n     Rivian stock closed at $10.58 in regular trading Tuesday, down more than 4%, while the S&amp;P 500 and Dow Jones Industrial Average were off 0.3% and 0.9%, respectively. \n</p>\n<p>\n     Through Tuesday trading, Rivian stock was down about 55% year to date. 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