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Volkswagen Raises Investment in Rivian to $5.8 Billion

13 Nov 2024 | Abstracted from US News

"The joint venture - named Rivian and VW Group Technology LLC - aims to integrate advanced electrical infrastructure and Rivian's software technology for future EVs of both companies, across all relevant vehicle segments, including subcompact cars...The Audi-parent will invest $1.3 billion for intellectual property licenses and an equity stake and up to $3.5 billion in future equity, notes and debt, all tied to specific milestones."

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