Volkswagen raises investment in Rivian to $5.8 billion

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Go back to Volkswagen raises investment in Rivian to $5.8 billion

Deutsche Bank Reiterates Hold Rating on Rivian Automotive Inc (RIVN)

November 13, 2024 6:37 AM EST

Deutsche Bank analyst Edison Yu reiterated a Hold rating and $12.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).

The analyst comments "Last night, Rivian and VW provided additional details about their deep collaboration first announced back in June. The joint venture between the two companies officially came into fruition, setting up to share R&D and development costs for EV electrical architecture and software that will ultimately be used across multiple models/brands. Notably, the maximum potential investment into Rivian has now increased from its prior value of $5.0bn to ~$5.8bn. The... More