Why VW investing $5 billion in Rivian might be transformative for both companies — and the auto industry
RIVNRivian Automotive(RIVN) CNBC·2024-09-12 20:00

Electric truck maker Rivian's 5billiondealwithVolkswagenGroupnetsRiviansomemuchneededcash.ButitalsogivesVolkswagenapathtoafutureintheautoindustryithasstruggledtogainonitsown.Initsshortlifespan,Rivianhasenjoyedpraisefromtheautomotivepress,receivedcharttoppingcustomersatisfactionratings,gonethroughoneofthebiggestinitialpublicofferingsofalltime,andwatcheditsmarketvalueswellto5 billion deal with Volkswagen Group nets Rivian some much-needed cash. But it also gives Volkswagen a path to a future in the auto industry it has struggled to gain on its own.In its short lifespan, Rivian has enjoyed praise from the automotive press, received chart-topping customer satisfaction ratings, gone through one of the biggest initial public offerings of all time, and watched its market value swell to 150 billion.But since then, Rivian's shares have plummeted. As of ...