Rivian Secures $5.8B Investment from VW, Ramps Up EV Production
Tech News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Rivian and Volkswagen celebrate a significant milestone with the ID Every One, their first joint venture vehicle using Rivians tech. Volkswagen invests an additional $1 billion, bringing their total to over $3 billion. Rivian gains further benefits, including a $1 billion loan option and $460 million in equity upon the joint ventures first vehicle launch. This deal could total $5.8 billion for Rivian, fueling their rapid growth and competitive stance in the EV market.
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