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Headline : Rivian founder tells investors why incoming shareholder Volkswagen needs his help to take on Tesla just as much as he needs the cash injection

Read more from the original article on here at finance.yahoo.com.





Tags : #rivian #founder #tells #investors #incoming #shareholder #volkswagen #needs #his #help #take #tesla #just #much #he #needs #cash #injection


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Volkswagen’s planned $5 billion investment in Rivian is a lifeline for the troubled carmaker—but not necessarily the one you may think.

The cash injection plugs a hole in Rivian’s spending plans, providing much-needed investor confidence in founder R.J. Scaringe at a critical juncture when other EV startups like Fisker are declaring bankruptcy.

But the world’s second-largest carmaker isn’t helping a U.S. rival out of some altruistic notion to drive the adoption of zero-emission electric vehicles.

Read more from the original article on here at finance.yahoo.com.


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