US76954A1034 - Common Stock
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Rivian said it has closed a major deal with Volkswagen that could be worth $5.8 billion by 2028.
Shares of electric vehicle manufacturer Rivian (NASDAQ:RIVN) jumped 21.3% in the morning session after the company announced a joint venture with vehicle manufacturer Volkswagen Group, valued at up to $5.8 billion, starting November 13, 2024. The joint venture is expected to help both companies develop next-generation electrical architecture and software technology for electric vehicles, covering all relevant vehicle segments, including subcompact cars.
A massive deal has reignited investors' expectations of the electric vehicle stock.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at automobile manufacturers stocks, starting with Winnebago (NYSE:WGO).
Rivian predicted it would turn gross-margin-positive next quarter.
VW will invest up to $5.8 billion. It aims to produce the first resulting vehicles in 2027.
Volkswagen AG and Rivian Automotive Inc. named leaders for their multibillion-dollar joint venture and showcased a prototype electric vehicle, signaling their commitment even as global EV demand softens and the incoming Trump administration threatens to curtail supportive policies.
While investors await the much-hyped 2026 debut of the R2, there's another big catalyst currently in danger for Rivian.