•1 min read•from TechCrunch
Volkswagen becomes Rivian’s top shareholder, displacing Amazon
Our take
Volkswagen has emerged as Rivian's top shareholder, surpassing Amazon in a significant shift within the electric vehicle landscape. This change comes as part of a $5.8 billion joint venture, positioning VW Group to expand its stake in the innovative EV company. By investing in Rivian, Volkswagen underscores its commitment to advancing electric mobility and reshaping the future of transportation. This strategic partnership not only enhances Rivian's growth potential but also signals a transformative approach to the automotive industry, emphasizing collaboration in an evolving market.
VW Group's stake will continue to grow under the $5.8 billion joint venture with Rivian.
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