Volkswagen Boosts Stake in Rivian as EV Partnership Grows
Volkswagen is delivering its second $1 billion investment to Rivian this week after the EV maker hit key financial targets, including back-to-back quarters of gross profit. This follows VW’s initial $1 billion buy-in last year, which gave the German automaker an 8.6% stake in the company. The funding is part of VW’s broader $5.8 billion commitment, which includes equity and contributions to the previously announced joint venture focused on EV software and architecture. If all tranches are completed, Volkswagen could…