VW launches $5.8bn tie up with Tesla rival Rivian

VW launches $5.8bn tie-up with Tesla rival Rivian

The firms will share EV technology as they face slowing demand and competition from Chinese rivals.

Rivian-Volkswagen joint venture deal rises to up to $5.8 billion, VW cars expected as early as 2027

The companies said the deal is now up to $5.8 billion, with the first VW models to use Rivian's software and electrical architecture arriving as early as 2027.

Business - CNBC - November 12

Inside VW and Rivian's $5.8 Billion Bet to Rescue Each Other

The world’s second-largest automaker and the Silicon Valley startup are trying to address each other’s core weakness.

Business - The Wall Street Journal - November 13

VW's $5.8 billion investment in Rivian isn't guaranteed. Here are the milestones the EV maker needs to hit

VW's capital to Rivian isn't guaranteed, and neither is the success of the joint venture. Major automotive tie-ups don't always result in long-term successes.

Business - CNBC - November 13

OpenAI launches ChatGPT desktop integrations, rivaling Copilot

ChatGPT on Mac OS can launch VS Code, Xcode, Terminal and iTerm2 straight from the desktop app.

Tech - VentureBeat - November 14

Tesla and Rivian shares were having a good week. Concerns over the future of EV tax credits ended that.

Worries that EV tax credits may go away under the Trump administration hit a fever pitch on Thursday, dragging down the stocks.

Business - MarketWatch - November 14

Google's cloud outpaces rivals in third quarter as AI battle heats up

One takeaway from tech earnings reports this week is that Google's cloud business is gaining momentum.

Business - CNBC - November 2

The Rivals effect: equestrian dressing gallops up the style charts

Retailers report strong sales of jodhpurs, riding boots and paddock-ready blazers – but is it ‘class passing’?. It’s a sport traditionally associated with mud and manure, but now the equestrian ...

World - The Guardian - November 8

Amazon steps up effort to build AI chips that can rival Nvidia

Big Tech group’s Annapurna Labs is spending big to build custom chips that lessen its reliance on market leader

Business - Financial Times - November 12

Tesla shares leap 22% after Musk predicts sales rebound

EV maker adds more than $150bn in market value after billionaire says sales may increase as much as 30% next year

Business - Financial Times - October 24

Trump’s shake-up of EV rules would be ‘huge positive’ for Tesla

Ending consumer subsidies for battery-run cars will lead to wider losses at the electric-car maker’s US rivals

Business - Financial Times - November 14

Follow live: Rodgers, Jets look to snap five-game losing streak, host Texans

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Sports - ESPN - October 31

Nigeria celebrates victory over South African rivals with Miss Universe runner-up

Chidimma Adetshina crowned Miss Universe Africa and Oceania after she was stripped of South African identity documents. Beauty queen Chidimma Adetshina’s second place in this year’s Miss Universe ...

World - The Guardian - 3 days ago

Boeing’s record $21bn fundraising boosts hopes of avoiding downgrade

Aircraft maker is racing to ease pressure on its balance sheet exacerbated by a labour strike

Business - Financial Times - October 29

Nicholas Carlson, Former Business Insider Editor, Launches Media Start-Up

Nicholas Carlson, the former top editor of Business Insider, is starting a new company that will focus on video. Just don’t call it a “pivot to video.”

Business - The New York Times - November 12

SpaceX launches giant Starship rocket, but passes up catching it with mechanical arms

SpaceX has launched another Starship rocket, but passed up catching it with giant mechanical arms

Tech - ABC News - Yesterday

Trump joins Musk for rocket launch as he continues staffing up administration

President-elect Donald Trump continued announcing picks for Cabinet positions and administrative roles, including tapping banking CEO Howard Lutnick to lead the Commerce Department. Trump also ...

Tesla should sell its stock after the big post-election run up, analyst says

Tesla should take advantage of its stock’s post-election surge to raise capital by selling shares, a Jefferies analyst says.

Business - MarketWatch - November 14

German police break up an environmental activists' camp near Tesla plant outside Berlin

German police have broken up a protest camp housing environmental activists in a forest near the Tesla electric car factory in Grünheide outside Berlin, citing violations of public safety and order

World - ABC News - 2 days ago

2024 World Wide Technology Championship scores: Three-way tie for lead after Round 3 sets up huge Sunday

Justin Lower, Nico Echavarria and Carson Young are one stroke ahead of the pack after Moving Day

Sports - CBS Sports - November 10

Rivian Maintains Profitability Target Despite Part Shortage

The carmaker said a part shortage in the third quarter hampered factory production, but it is still on track to report its first gross profit by year-end.

Business - The Wall Street Journal - November 7

Volkswagen and Rivian Form Joint Venture, Deepening Alliance

The new agreement, which builds on an earlier announcement, calls for the German automaker to invest $5.8 billion in Rivian, a maker of electric vehicles.

Business - The New York Times - November 12

Rivian’s stock soars as joint venture with Volkswagen is upsized to $5.8 billion

Rivian Automotive Inc. and Volkswagen have launched their upsized joint venture, joining forces with the goal of creating “cutting-edge” electric-vehicle technology.

Business - MarketWatch - November 13

Pressure mounts on VW to finally confront the reality of restructuring

The carmaker must overcome internal resistance to changes necessary to boost competitiveness

Business - Financial Times - October 23

Rivian’s losses widen, but investors like hearing of ‘progress’ in next-gen EV

Rivian posted a wider loss and lower sales than Wall Street expected, but says it is making progress with its next-generation EV platform.

Business - MarketWatch - November 8

Rivian Reassures Investors With Cost Cuts, Green Credit Sales

Despite weak EV demand, the truck maker said it’s on track to make a gross profit in the last three months of the year.

Business - Inc. - November 8

Volkswagen Chooses Rivian's Kjell Gruner to Lead U.S. Business

The German car maker said Gruner would take over as chief executive of Volkswagen’s America operations on Dec. 12.

Business - The Wall Street Journal - 2 days ago

China has deported a VW executive for allegedly using drugs while in Thailand

A senior executive for Volkswagen in China has been deported for allegedly using cocaine and marijuana while on vacation in Thailand

World - ABC News - October 23