Rivian Stock Races Higher After The Bell: What's Going On?

Quick Summary:

What Happened: Rivian and Volkswagen entered into a transaction agreement to create a new joint venture called “Rivian and VW Group Technology, LLC.” The deal has a total value of up to $5.8 billion and is expected to commence on Wednesday.

Rivian Automotive Inc (NASDAQ:RIVN) shares are moving higher in Tuesday’s after-hours session after the company announced the launch of its joint venture with Volkswagen Group.

The joint venture will focus on providing next-generation electrical architecture and software technology for both companies’ future electric vehicles across relevant vehicle segments.

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Article Details

Author / Journalist: Adam Eckert

Category: Technology

Markets: United States

Topics: Movers Why it's moving EVs RIVN Electric cars Benzinga Contracts News Tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 22:41:42 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 387 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 23560881

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