Rivian receives the next $1B from Volkswagen as sales struggles continue

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Rivian has hit a milestone in its agreement with German automotive giant Volkswagen that will bring $1 billion into the EV startup’s coffers in the form of a share sale. Rivian also announced Wednesday that it delivered 10,661 vehicles in the second quarter.

That represents a 23% drop in sales from the second quarter of 2024, and only a slight improvement over Rivian’s rough first quarter, when it delivered 8,640 EVs. The company has already lowered its sales target for 2025 as a result of President Trump’s tariffs and trade wars, all of…



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Rivian receives the next $1B from Volkswagen as sales struggles continue


Rivian has hit a milestone in its agreement with German automotive giant Volkswagen that will bring $1 billion into the EV startup’s coffers in the form of a share sale. Rivian also announced Wednesday that it delivered 10,661 vehicles in the second quarter.

That represents a 23% drop in sales from the second quarter of 2024, and only a slight improvement over Rivian’s rough first quarter, when it delivered 8,640 EVs. The company has already lowered its sales target for 2025 as a result of President Trump’s tariffs and trade wars, all of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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