💨 Abstract

Rivian, an electric vehicle maker, received a $5.8 billion investment from Volkswagen as part of a joint venture. The investment aims to support Rivian's cost-cutting, profitability goals, and launch of its affordable R2 SUV. The partnership will integrate advanced electrical infrastructure and Rivian's software technology for future electric vehicles. The investment is seen as a vote of confidence in Rivian amid uncertainties in U.S.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖