"Volkswagen Group is now Rivian's largest shareholder, after investing roughly $3 billion in the American startup, with another $2.8 billion on the way if things go according to plan. According to the latest SEC documents filed by Rivian earlier this week, Volkswagen Group now owns 209.7 million shares of Rivian stock, which amounts to 15.9%, as spotted by TechCrunch."
"The German company's stake started out at 8.6% less than two years ago, and has now displaced Amazon, which has been Rivian's top shareholder for at least five years, and now owns a 12.28% stake in the EV startup. Amazon is also a huge customer for Rivian, ordering 100,000 electric delivery vans in 2019."
"Volkswagen Group's stake is bound to increase as Rivian continues to tick off the remaining milestones in the two companies' agreement. In November 2024, Rivian and Volkswagen Group Technologies formed a joint venture that's focused on the development of electrical architecture and software for electric vehicles. The German automaker has committed to invest $5.8 billion in the California startup, but the money will come gradually."
"The partnership came with a $1 billion investment, which was followed up with another $1 billion last year. Last month, another $1 billion was unlocked after the Volkswagen ID. Every1 city EV completed winter testing. The upcoming small EV will be the first pro"
Volkswagen Group has become Rivian’s largest shareholder after investing roughly $3 billion in the American electric-vehicle maker, with about $2.8 billion more planned if milestones are met. Volkswagen now holds 209.7 million Rivian shares, representing 15.9%, surpassing Amazon, which previously led the shareholder list for at least five years. Amazon’s stake has declined to 12.28% and it remains a major customer, having ordered 100,000 electric delivery vans in 2019. Rivian and Volkswagen also formed a joint venture focused on electrical architecture and software, with staged investments including $1 billion at launch and additional $1 billion tranches tied to progress.
Read at insideevs.com
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