Rivian to Boost Operations Through Volkswagen Joint Venture -- Market Talk
Dow Jones11-14
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)
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