BUZZ-Rivian jumps after Volkswagen raises investment to $5.8 bln
Reuters11-13
BUZZ-Rivian jumps after Volkswagen raises investment to $5.8 bln ** Shares of electric-vehicle maker Rivian Automotive RIVN.O rise 13.4% to $12 in premarket trading
** German automaker Volkswagen Group VOWG_p.DE on Tuesday raised its investment in RIVN by 16% to $5.8 bln
** The deal is part of a joint venture named Rivian and VW Group Technology LLC to develop EV architecture and software
** In June, the companies said VW would invest $5 bln in RIVN as part of the JV
** Up to last close, RIVN stock had fallen ~55% YTD
(Reporting by Harshita Mary Varghese in Bengaluru)
((HarshitaMary.Varghese@thomsonreuters.com))
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