On Tuesday, Volkswagen and Rivian released a joint statement announcing that the German automaker would invest billions in the American EV company. The investment will total $5 billion, with staggered investments over the next few years.
Volkswagen's investment will help Rivian address cash flow issues, particularly concerning operational costs and production ramp-up for its next-gen EVs set for release in 2026. The infusion of cash is crucial for Rivian's future success.
Volkswagen is not acquiring Rivian; instead, it's a strategic investment to benefit both companies. Despite being competitors in the EV market, they are forming a partnership on certain EV technologies.
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