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Volkswagen has pushed Amazon out of the top spot to become Rivian's largest shareholder.
Volkswagen has become Rivian’s largest shareholder, surpassing Amazon with a 15.9% stake.
KEY POINTS
- VW’s stake will continue rising as Rivian hits technical milestones tied to their $5.8 billion investment agreement.
- The first joint product, the VW ID.EVERY1 hatchback, will use Rivian-developed software and electrical architecture.
- The VW-Rivian joint venture specifically excludes AI and autonomy, which Rivian continues to develop independently.
- Rivian’s intense spending on autonomy has delayed its profitability target to after 2027.
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