Benzinga
Benzinga
  • 2 days ago
Volkswagen Group has increased its planned investment in a joint venture with Rivian Automotive to $5.8 billion, before its operations launch Wednesday. This joint venture will integrate Rivian’s software and electrical systems into VW vehicles, with models expected in 2027. VW CEO Oliver Blume stated the integration will begin with Volkswagen and expand to Audi and Scout brands, with the potential for luxury sports cars. Rivian shares rose over 6% in after-hours trading.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Volkswagen Group has increased its planned investment in a joint venture with Rivian
00:05Automotive to $5.8 billion out of its operations launch Wednesday.
00:11This joint venture will integrate Rivian's software and electrical systems into VW vehicles
00:16with models expected in 2027.
00:19VW CEO Oliver Bloom stated the integration will begin with Volkswagen and expand to Audi and
00:25Scout brands with potential for luxury sports cars in the future.
00:29Rivian's shares rose over 6% in after-hours trading.

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