Volkswagen Deepens Rivian Partnership While Facing $1.75 Billion in Potential Fines
By
Zachary Shahan
Master baker tier. Every paragraph earns its place on the tray.
Summary
Volkswagen has deepened its partnership with Rivian, investing further in the EV company to gain software expertise while providing Rivian with needed capital. However, Volkswagen also faces potential fines of up to $1.75 billion related to regulatory or compliance issues, creating a mixed outlook for the German automaker.
Key quotes
· 3 pulledWe've got some positive news from Volkswagen and Rivian this month, but we've also got a matter of concern for Volkswagen that could be quite costly.
One of Volkswagen's big EV plays in the past several years has been partnering with Rivian, including investing in the company.
The German automaker decided it needed help on the software side of vehicles in this era, and Rivian needed cash, so they became great partners.
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