News Summary

• Volkswagen has pushed Amazon out of the top spot to become Rivian's largest shareholder.
• VW Group’s increasing equity stake in Rivian, which has grown from 8.6% to 15.9% in less than two years, is tied to a joint venture with the EV startup.
• VW has committed to invest $5.8 billion into Rivian.
• The German automaker kicked off the deal with an initial $1 billion investment, followed by another $1billion in mid-2025.