May. 5 at 1:53 AM
Volkswagen will acquire 62.9M shares of Rivian for
$1B, deepening its stake in the EV maker.
The shares were purchased at
$15.90 each through a private placement dated April 30, 2026, under an investment agreement originally signed in November 2024 and later amended in April 2025.
Following the deal, Volkswagen holds about 209.8M Rivian shares via its wholly owned subsidiary, giving it roughly a 10% ownership stake. The filing notes both Volkswagen and its unit may share beneficial ownership.
Rivian stock trimmed earlier losses but remained down about 2% amid broader market weakness.
The company produces electric delivery vans and pickup trucks from its facility in Illinois, as Volkswagen expands its strategic position in the EV space .
$VWAGY $RIVN $VLKAY