Rivian Shares Surge 28% On $5 Billion Volkswagen Investment—On Track For EV Maker’s Best Day Ever

  • 📰 Forbes
  • ⏱ Reading Time:
  • 31 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 53%

Rivian News

Volkswagen,Tesla

Ty Roush is a New York City-based breaking news reporter who frequently covers Russia’s invasion of Ukraine, the automotive industry and sports money. He joined Forbes in 2022 and has covered Exxon acquiring Pioneer for nearly $60 billion, a mysterious respiratory illness affecting dogs across the U.S.

Daily Multivitamin Use In Healthy Adults Doesn’t Decrease Risk Of Death, Study Suggests: What To Know About Pros And Cons Of MultivitaminsShares for Rivian rose by over 28% on Wednesday, putting the electric vehicle maker on track for its largest single-day gain ever, after the company announced a joint venture with Volkswagen that includes an investment of up to $5 billion.Rivian shares jumped to more than $15 as of around 10:45 a.m.

Prior to Wednesday, the largest single-day gain for Rivian came on Nov. 11, 2021, when shares rose by over 22% on the stock’s opening day.the company would invest $1 billion in Rivian before additional investments of up to $4 billion through 2026 if the partnership achieves unspecified technical milestones.

Blume said the joint venture—which has not been named—will integrate news and entertainment media, wireless connectivity and autonomous driving functions, among other things.We’re launching text message alerts so you'll always know the biggest stories shaping the day’s headlines.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Volkswagen's $5 billion investment in Rivian boosts EV maker's sharesVolkswagen's $5 billion investment in Rivian boosts EV maker's shares
Source: Investingcom - 🏆 450. / 53 Read more »