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Volkswagen to invest an additional $800 million to push forward its cooperation plan with Rivian (RIVN.US)

Market IntelTuesday, Nov 12, 2024 8:40 pm ET

1min read

RIVN -0.24%

Volkswagen AG on Tuesday added $800 million to its investment plan to jointly develop battery-powered vehicles with Rivian Inc. (RIVN.US), which the German carmaker said in June it expected to invest $5 billion in. The companies also named leaders for their $2 billion-plus joint venture and showed off a prototype electric vehicle and commitment despite a weak global demand for EVs and a Trump administration threatening to cut support policies.

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OG_Time_To_Kill

11/13

$RIVN With a substantial investment of $5.8 billion, Rivian R2 aims to deliver 200,000 vehicles by 2026. It remains to be seen what the stock prices will be.

TobyAguecheek

11/13

$RIVN Some folks claimed VW was bankrupt and unable to cough up cash for Rivian...well, those baseless rumors have vanished. Kudos to Rivian's supporters and longs; you've defeated the shorts once more.

grailly

11/13

Adding another $800 million brings the total investment to $5.8 billion... I hope they have a solid exit strategy in place. Fingers crossed for Rivian's future

PhilosophyMassive578

11/13

Nice to see the prototype electric vehicle, but how long will it be before we see it on the market and at what price point?

uncensored_84

11/13

Why is the Trump administration threatening to cut support policies for EVs? Doesn't they see the innovation happening here?

Snorkx

11/13

This is HUGE for the future of electric vehicles! A $2 billion+ joint venture between VW and Rivian will set the standard for the industry

OhShit__ItsDrTran

11/13

More money thrown at a losing game? Global demand for EVs is weak, what makes VW think this is a good time to double down?

CertifiedWwDuby

11/13

Loving the additional investment! This is going to skyrocket Rivian's stock, can't wait to see the returns

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