📝 Rivian raises $1B

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The successful completion of winter testing for the VW ID.EVERY1 marks a pivotal technical and financial milestone for the Rivian-Volkswagen joint venture, RV Tech. By validating Rivian’s software and electrical architecture in extreme conditions in Sweden and Arizona, the venture has unlocked a fresh $1 billion USD investment from Volkswagen Group. This latest tranche, comprised of approximately $750 million in equity and $250 million in equity or convertible debt, brings Volkswagen’s total commitment toward a potential $5.8 billion USD closer to reality. The timing is critical for Rivian as it prepares for the market launch of the R2 SUV, which recently announced a starting price of $45,000 USD for the base trim (available in 2027), with initial Performance deliveries ($57,990 USD) expected to begin in late Spring 2026.

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