Volkswagen raises Rivian stake by 16% to $5.8 billion
Posted: Nov 12, 2024
- Volkswagen Group raised investment in Rivian by 16% to $5.8 billion
- Joint venture formed to develop EV architecture and software
- VW to invest $5.8 billion by 2027, including initial $1 billion convertible note
- Rivian's R2 to launch in 2026, potential debut of VW Group models in 2027
- Key figures leading the joint venture: Wassym Bensaid and Carsten Helbing
- Developers and engineers based in Palo Alto, California with additional sites planned
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