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We’ve got some positive news from Volkswagen and Rivian this month, but we’ve also got a matter of concern for Volkswagen that could be quite costly.
Volkswagen × Rivian Going Well
One of Volkswagen’s big EV plays in the past several years has been partnering with Rivian, including investing in the company. The German automaker decided it needed help on the software side of vehicles in this era, and Rivian needed cash, so they became great partners.
Plenty of partnerships like this fizzle and fade away, but this one seems to be going very well. At the same time, Rivian is prepping for sale of its first semi-affordable model and ready to scale up significantly. So, Volkswagen has just decided to invest more in the young electric vehicle company. Through private placement, the German giant bought more shares of Rivian (NASDAQ:RIVN) and grown its stake in the company to 15.9%. That’s quite a large stake in a company at Rivian’s stage!
