Volkswagen Stock: Partnership with Rivian Boosts EV Strategy

Volkswagen is intensifying its collaboration with US electric vehicle manufacturer Rivian, increasing its investment to an impressive 5.8 billion euros. This strategic partnership aims to strengthen VW's global competitive position in the electric mobility sector. The joint venture, equally managed by both companies, focuses on developing advanced software and electronic architectures for electric vehicles. The first models utilizing this innovative technology are expected to hit the market by 2027.

Brussels Plant Closure Looms

While the partnership with Rivian signals progress, Volkswagen faces challenges elsewhere. The company's Brussels plant, unable to secure an investor, is slated for closure, affecting 3,000 employees. Production of the electric SUV Q8 e-tron is scheduled to cease at the end of February. This development underscores the difficulties Volkswagen encounters in its transition to electric mobility, a situation closely monitored by investors and reflected in recent stock price fluctuations.