News Summary

• Winter testing has been completed for the VW ID.EVERY1, the first vehicle under a joint venture between Rivian and Volkswagen Group.
• That’s not just progress toward getting this vehicle into customers’ hands; it also unlocks another $1 billion investment from Volkswagen Group into Rivian.
• The German automotive giant has already invested a little more than $3 billion in Rivian as part of the joint venture.
• All told, the deal could be worth as much as $5.8 billion.