Loading...
Market
Volkswagen market cap by end of 2024?
5
Resolution / Starting Odds
Less than €70 billion • 25%
€70-80 billion • 25%
€80-90 billion • 25%
More than €90 billion • 25%
Market cap data from financial markets
Story
Volkswagen to Invest Up to $5 Billion in Rivian, Shares Surge 50%
Jun 26, 2024, 01:04 PM
Volkswagen Group has announced a significant investment in Rivian, a U.S.-based electric vehicle (EV) maker. The German automaker plans to invest up to $5 billion, starting with an initial $1 billion through an unsecured convertible note that will convert into Rivian common stock upon regulatory approval. This investment will be split, with $500 million converting at $10.84 per share, implying 46.1 million additional Rivian shares. The remaining $500 million will be used to form a joint venture between the two companies. The partnership aims to develop next-generation software architectures for electric vehicles, which both companies plan to use in their future models by 2026. Rivian's shares surged by over 50% following the announcement, reflecting investor optimism. However, Volkswagen's shares fell by 1.4% amid concerns over the cost and implications of the deal. Additional details revealed that Rivian will receive up to $3 billion directly, with the rest allocated to the joint venture. Volkswagen's software unit, CARIAD, has been struggling, prompting this strategic move.
View original story
Similar markets
Increase • 25%
Decrease • 25%
No significant change • 25%
Data unavailable • 25%
Below $800 billion • 25%
$800 billion to $1 trillion • 25%
$1 trillion to $1.2 trillion • 25%
Above $1.2 trillion • 25%
Above $30 billion • 33%
Between $20 billion and $30 billion • 33%
Below $20 billion • 33%
Above 10% • 33%
Between 5% and 10% • 33%
Below 5% • 33%
Above $1 trillion • 25%
Between $500 billion and $1 trillion • 25%
Below $500 billion • 25%
Other • 25%
Less than $150 billion • 25%
$150 billion to $170 billion • 25%
$170 billion to $190 billion • 25%
More than $190 billion • 25%
Toyota • 25%
Volkswagen • 25%
BYD • 25%
Other • 25%
Increase by over 5% • 25%
Increase by up to 5% • 25%
Remain stable • 25%
Decrease • 25%
Above $1.2 trillion • 25%
Between $1 trillion and $1.2 trillion • 25%
Between $900 billion and $1 trillion • 25%
Below $900 billion • 25%
Above $5 billion • 25%
$2 billion to $5 billion • 25%
$500 million to $2 billion • 25%
Below $500 million • 25%
