Rivian Shares Rise 13% In Pre-Market: What's Going On?

Quick Summary:

Rivian Automotive Inc.’s (NASDAQ:RIVN) shares are up 13% in pre-market trading after German automaker Volkswagen Group (OTC:VWAGY) increased their planned investment into the EV startup to $5.8 billion and kickstarted their joint venture.

However, Rivian said on Tuesday that the joint venture called Rivian and VW Group Technology, LLC is expected to start on Nov.13 and ...

As part of the deal, Volkswagen was expected to invest about $5 billion into loss-making Rivian.

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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets: United States

Topics: VWAGY News Benzinga Electric vehicles Tech Pre-Market Outlook EVs Mobility Markets RIVN Equities

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 11:29:02 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 331 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23569960

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