VW to invest $5B in EV maker Rivian

By Agence France-Presse

Jun 27, 2024 12:15 am

The collaboration includes a direct $3-billion investment by the German company in Rivian as well as $2 billion to establish an equally controlled and owned joint venture 'to create next-generation electrical architecture and best-in-class software technology,' the companies said in a news release.

Shares of Rivian rose 8.6 percent on Tuesday and nearly 50 percent in after-hours trading following the deal's announcement just after the end of the trading session.

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