Rivian Stock Skyrockets Following Volkswagen’s $3 Billion Investment Plan
Volkswagen (VWAGY) disclosed Tuesday it would invest $1 billion in Irvine, Calif.-based electric vehicle maker Rivian (RIVN), with plans to ramp up to as much as $3 billion over the next few years. VW is aiming to bolster an ambitious, but struggling software development program. Rivian stock rocketed more than 42% in after-hours trade.↑X powered cars, committing billions … Read more