This All-American EV Maker Is Charging Germany $3.5 Billion for Access to Its Tech
Rivian Automotive (NASDAQ: RIVN) is a high-tech auto start-up that builds all-electric trucks and delivery vans. It has made a huge amount of progress with its business as it looks to become a sustainably profitable company.That said, it still has a long way to go before it gets to that point -- which is why the $3.5 billion it is charging Germany's Volkswagen for access to its tech is so important. Here's what you need to know.As noted, Rivian is a U.S. automaker focused on electric vehicles, or EVs. It has honed in on a niche within the industry, as it only makes trucks and delivery vehicles, which are basically just a different kind of truck. It has a prominent partnership with Amazon, which has used Rivian trucks to support its expanding delivery efforts. That is basically just a traditional customer relationship since Amazon is simply buying delivery vehicles.Continue reading
Rivian Automotive (NASDAQ: RIVN) is a high-tech auto start-up that builds all-electric trucks and delivery vans. It has made a huge amount of progress with its business as it looks to become a sustainably profitable company.
That said, it still has a long way to go before it gets to that point -- which is why the $3.5 billion it is charging Germany's Volkswagen for access to its tech is so important. Here's what you need to know.
As noted, Rivian is a U.S. automaker focused on electric vehicles, or EVs. It has honed in on a niche within the industry, as it only makes trucks and delivery vehicles, which are basically just a different kind of truck. It has a prominent partnership with Amazon, which has used Rivian trucks to support its expanding delivery efforts. That is basically just a traditional customer relationship since Amazon is simply buying delivery vehicles.
