The Rivian-Volkswagen Group joint venture has been finalized, injecting up to $5.8 billion into Rivian, signaling substantial investment amidst operational challenges.
VW Group CEO Oliver Blume emphasized that VW's struggling software arm, Cariad, will still hold a 'central role' within the industry, despite uncertainties.
Despite a strong demand for Rivian’s vehicles, the company reported a significant revenue drop, revealing struggles with production, deliveries, and supply chain issues.
With Rivian's Q3 earnings showing a revenue decline of 34%, the gap between production and deliveries raises concerns about market demand.
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