Volkswagen's $5 bn investment in US's Rivian boosts EV maker's shares

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Volkswagen's $5 bn investment in US's Rivian boosts EV maker's shares - Business Standard

Quick Summary:

For Volkswagen, analysts and investors see the investment as a move to solve the company's software struggles.

Still, VW said Cariad will play a central role in scaling up software that is used across the brands.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.

Even with losses of nearly $40,000 for every vehicle it delivers, Rivian has been on a steadier footing than other EV startups that have been forced to slash prices or file for bankruptcy, including Fisker earlier this month.