Rivian shares are surged after the EV maker announced a joint venture deal with Volkswagen, crucially bringing fresh capital into Rivian’s coffers.
Rivian on Thursday Affirmed its full-year production forecast and estimated that second-quarter deliveries will be above analyst expectations. A day after shares surged on news of its joint venture with Volkswagen, RIVN stock fell on Thursday. During Rivian's investor day on Thursday, the EV startup announced it still expects to produce 57,000 vehicles in 2024.
Rivian stock surged early Wednesday after it announced a joint venture with Volkswagen, which includes plans for a $5 billion cash infusion.