1252 ET - Rivian Automotive seems to be helping a competitor with its joint venture deal with Volkswagen, UBS analysts say in a research note. The incremental capital from Volkswagen is positive, but not overly meaningful for the electric-vehicle startup, the analysts say. "We believe Rivian Automotive is counting on scale/cost/purchasing savings from the joint venture to help their own operations," the analysts add. Rivian shares jump 18% to $12.45. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
November 13, 2024 12:52 ET (17:52 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments