Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion.
The additional $4 billion is expected to be invested following the establishment of a joint venture, according to joint releases by the automakers Tuesday.The additional $4 billion is expected by 2026. It includes plans for $1 billion each in 2025 and 2026, followed by $2 billion in 2026 related to an expected joint venture to create electrical architecture and software technology, according to
The initial $1 billion from VW will be in the form of a convertible note, which could be converted to Rivian shares on or after December 1, the release said.when Rivian went public in 2021. The Detroit automaker sold a majority of its Rivian shares by 2023 after walking back a plan to codevelop EVs with the company.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
FTSE 100, DAX 40 and CAC 40 Continue to Range TradeOutlook on FTSE 100, DAX 40 and CAC 40 amid quiet start to the week.
Les mer »
FTSE 100, DAX 40 and CAC 40 remain side-lined as US is shut for JuneteenthOutlook on FTSE 100, DAX 40 and CAC 40 amid low volume trading ahead of Thursday’s BoE meeting.
Les mer »
FTSE 100, DAX 40 and CAC 40 try to stabilize following last week’s sharp lossesOutlook on FTSE 100, DAX 40 and CAC 40 following last week’s large outflows.
Les mer »
FTSE 100, DAX 40 and CAC 40 try to Stabilize Following Thursday’s Sharp LossesOutlook on FTSE 100, DAX 40 and CAC 40 as large outflows continue to weigh on these major indices
Les mer »
Music Industry 40 Under 40: Execs & Power Players 202440 Under 40 in the music industry: Billboard's 2024 list of executives and power players revealed.
Les mer »
Rivian stock surges 36% after announcing $5 billion joint venture with VolkswagenRivian stock surges 36% after announcing $5 billion joint venture with Volkswagen
Les mer »