Volkswagen increases investment in Rivian to $5.8 billion for joint venture

Volkswagen Group has raised its investment in electric vehicle startup Rivian by 16% to $5.8 billion. The two companies have announced the launch of their joint venture to develop electric vehicle architecture and software. The joint venture aims to integrate advanced electrical infrastructure and Rivian's software technology for future EVs of both companies. Volkswagen plans to invest the $5.8 billion in Rivian and the joint venture by 2027. The joint venture will use Rivian's existing technology to launch Rivian's R2 model in the first half of 2026 and potentially debut Volkswagen Group models as early as 2027.

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11-14

Rivian to Boost Operations Through Volkswagen Joint Venture -- Market Talk

11-14

Rivian's stock soars as joint venture with Volkswagen is upsized to $5.8 billion

11-13

Rivian's Upsized JV Deal With Volkswagen Bodes Well For US EV Maker, Analysts Say

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Cosmograph

11-14

Is rivian profitable? No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...

Rivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion

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No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...","listText":"Is rivian profitable? No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...","text":"Is rivian profitable? No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370782593454160","repostId":"2483918050","repostType":4,"repost":{"id":"2483918050","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1731509719,"share":"https://ttm.financial/m/news/2483918050?lang=&edition=fundamental","pubTime":"2024-11-13 22:55","market":"hk","language":"en","title":"Rivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2483918050","media":"Dow Jones","summary":"Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create \"cutting edge\" EV technology. $Rivian Automotive, Inc.(RIVN)$  and the German-bas","content":"<html><head></head><body><p>Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create &#34;cutting edge&#34; EV technology.</p><p>Shares of Rivian rose 20% in Wednesday trading. Rivian reported mixed third-quarter earnings last week.</p><p></p><p><img src=\"https://community-static.tradeup.com/news/b88ed2aef70fd109eea02be0e6c31b55\" alt=\"\"/></p><p><a href=\"https://laohu8.com/S/RIVN\">Rivian Automotive, Inc.</a> and the German-based car maker Volkswagen said that the deal totals $5.8 billion, which is more than when the makers first announced it back in June. The JV starts operations on Wednesday.</p><p>The JV &#34;combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric-vehicle platforms and architectures,&#34; the companies said. &#34;The goal is to be able to offer customers the best technological solution as early as possible.&#34;</p><p>The JV will be co-led by Wassym Bensaid, Rivian&#39;s chief software officer, and Carsten Helbing, Volkswagen Group&#39;s chief technical engineer.</p><p>&#34;We&#39;re thrilled to see our technology being integrated in vehicles outside Rivian - this is an important enabler to help accelerate EV adoption,&#34; Rivian Chief Executive RJ Scaringe said in a statement.</p><p>&#34;The partnership with Rivian is the next logical step in strengthening our global competitive and technological position,&#34; VW&#39;s CEO Oliver Blume said.</p><p>The companies first announced the JV, then expected at up to $4 billion, and a $1 billion investment from Volkswagen in June.</p><p>Volkswagen Group plans to invest up to $5.8 billion in Rivian and the joint venture by 2027. The initial $1 billion investment, the form of convertible notes, has already been made.</p><p>The JV&#39;s goal is to use Rivian&#39;s existing EV architecture and software technology stack to launch Rivian&#39;s next-generation EV in the first half of 2026 and support an expected launch of the first models from the Volkswagen as early as 2027, the companies said.</p><p>In just 12 weeks, the joint team developed an drivable demo EV, highlighting integration capabilities of both companies, they said.</p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-13 22:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create &#34;cutting edge&#34; EV technology.</p><p>Shares of Rivian rose 20% in Wednesday trading. Rivian reported mixed third-quarter earnings last week.</p><p></p><p><img src=\"https://community-static.tradeup.com/news/b88ed2aef70fd109eea02be0e6c31b55\" alt=\"\"/></p><p><a href=\"https://laohu8.com/S/RIVN\">Rivian Automotive, Inc.</a> and the German-based car maker Volkswagen said that the deal totals $5.8 billion, which is more than when the makers first announced it back in June. The JV starts operations on Wednesday.</p><p>The JV &#34;combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric-vehicle platforms and architectures,&#34; the companies said. &#34;The goal is to be able to offer customers the best technological solution as early as possible.&#34;</p><p>The JV will be co-led by Wassym Bensaid, Rivian&#39;s chief software officer, and Carsten Helbing, Volkswagen Group&#39;s chief technical engineer.</p><p>&#34;We&#39;re thrilled to see our technology being integrated in vehicles outside Rivian - this is an important enabler to help accelerate EV adoption,&#34; Rivian Chief Executive RJ Scaringe said in a statement.</p><p>&#34;The partnership with Rivian is the next logical step in strengthening our global competitive and technological position,&#34; VW&#39;s CEO Oliver Blume said.</p><p>The companies first announced the JV, then expected at up to $4 billion, and a $1 billion investment from Volkswagen in June.</p><p>Volkswagen Group plans to invest up to $5.8 billion in Rivian and the joint venture by 2027. The initial $1 billion investment, the form of convertible notes, has already been made.</p><p>The JV&#39;s goal is to use Rivian&#39;s existing EV architecture and software technology stack to launch Rivian&#39;s next-generation EV in the first half of 2026 and support an expected launch of the first models from the Volkswagen as early as 2027, the companies said.</p><p>In just 12 weeks, the joint team developed an drivable demo EV, highlighting integration capabilities of both companies, they said.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4099":"汽车制造商","RIVN":"Rivian Automotive, Inc.","BK4555":"新能源车","BK4547":"WSB热门概念","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4596":"哈里斯概念"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2483918050","content_text":"Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create \"cutting edge\" EV technology.Shares of Rivian rose 20% in Wednesday trading. Rivian reported mixed third-quarter earnings last week.Rivian Automotive, Inc. and the German-based car maker Volkswagen said that the deal totals $5.8 billion, which is more than when the makers first announced it back in June. The JV starts operations on Wednesday.The JV \"combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric-vehicle platforms and architectures,\" the companies said. \"The goal is to be able to offer customers the best technological solution as early as possible.\"The JV will be co-led by Wassym Bensaid, Rivian's chief software officer, and Carsten Helbing, Volkswagen Group's chief technical engineer.\"We're thrilled to see our technology being integrated in vehicles outside Rivian - this is an important enabler to help accelerate EV adoption,\" Rivian Chief Executive RJ Scaringe said in a statement.\"The partnership with Rivian is the next logical step in strengthening our global competitive and technological position,\" VW's CEO Oliver Blume said.The companies first announced the JV, then expected at up to $4 billion, and a $1 billion investment from Volkswagen in June.Volkswagen Group plans to invest up to $5.8 billion in Rivian and the joint venture by 2027. The initial $1 billion investment, the form of convertible notes, has already been made.The JV's goal is to use Rivian's existing EV architecture and software technology stack to launch Rivian's next-generation EV in the first half of 2026 and support an expected launch of the first models from the Volkswagen as early as 2027, the companies said.In just 12 weeks, the joint team developed an drivable demo EV, highlighting integration capabilities of both companies, they said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":39,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}]}