DETROIT — Volkswagen Group increased its planned investment for a joint venture with electric vehicle startup Rivian Automotive to $5.8 billion as the companies have broader aspirations than they initially announced for the team up.Investors were impressed with the details of the deal, sending shares of Rivian up nearly 20% in early Wednesday trading.The joint venture will provide VW with next-generation electrical architecture and software for EVs across the German automaker's brands, while giving Rivian a ...

The share price of electric vehicle startup Rivian (NASDAQ: RIVN) is showing strength as investors react positively to news of a significant investment in the struggling firm.Although RIVN ended the last trading session down 4% with a valuation of $10.58, the stock was up over 11% during the pre-market session on November 13.The stock has struggled throughout 2024 amid rising competition and a slowdown in EV market demand, leading Rivian to plunge by almost 50% year-to-date. Rivian one-day stock price chart ...

Rivian predicted it would turn gross-margin-positive next quarter.Since it went public back in 2021, Rivian Automotive (RIVN -4.17%) has done a good job of selling its electric vehicle (EV) SUVs. What it hasn't done a good job of is being able to sell them for more than it costs to makes them. This is reflected in the company's negative gross margin.Despite some recent component shortages that affected deliveries, the EV company reiterated that it would be able to achieve a modest positive gross margin next ...

While investors await the much-hyped 2026 debut of the R2, there's another big catalyst currently in danger for Rivian.Electric vehicle (EV) producer Rivian (RIVN 4.25%) is an intriguing investment for many reasons, but part of it is simply because it's in such early innings of a long game and every development is such a big deal for the company. Investors (and potential investors) are looking for what comes next for the company to help them determine if it is worth taking a chance on.The next big thing for ...

Rivian says it will be gross-profit positive this quarter, but there's a $275 million caveat to that claim.Rivian (RIVN 3.26%) has had problems producing vehicles profitably since coming public, but management thinks that will change in the fourth quarter. What that gross profit will include, though, is a $275 million windfall that may not be sustainable. Travis Hoium digs into the numbers in this video.*Stock prices used were end-of-day prices of Nov. 8, 2024. The video was published on Nov. 11, 2024. ...

Management says gross profits in the next quarter are still on course.The EV manufacturer and seller saw its revenue decline in the latest quarter as buyers failed to materialize. (RIVN -0.55%)*Stock prices used were the afternoon prices of Nov. 7, 2024. The video was published on Nov. 9, 2024. ...

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Although the markets have received Donald Trump’s election positively, an analyst is warning that the power shift might not be ideal for electric vehicle manufacturer Rivian (NASDAQ: RIVN). Particularly, Bank of America (NYSE: BAC) has downgraded Rivian stock from ‘Buy’ to ‘Neutral’ and reduced its price target from $20 to $13, citing potential bearish sentiments from possible Trump policies on the EV space. In an investor note on November 8, BofA analyst John Murphy stated that the decision reflects potent ...

California-based electric vehicle (EV) company Rivian Automotive (RIVN) reported its third-quarter 2024 results, which fell short of Wall Street’s expectations. The EV maker faced significant challenges, particularly in production and supply chain disruptions, which impacted its revenues and profitability. CEO RJ Scaringe described the quarter as challenging, and the company widened its full-year loss expectations. On a slightly positive note, management reaffirmed its 2024 delivery outlook and maintained i ...

Rivian Automotive, Inc. (NASDAQ:RIVN) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Tim Bei - VP, IR RJ Scaringe - Founder and CEO Claire McDonough - CFO Javier Varela - Chief Operations Officer Conference Call Participants Emmanuel Rosner - Wolfe Research Adam Jonas - Morgan Stanley Dan Levy - Barclays Mark Delaney - Goldman Sachs Joseph Spak - UBS George Gianarikas - Canaccord Genuity Tom Norian - RBC Capital Markets Alex Potter - Piper Sandler Mike Shlisky - D.A. David ...