Volkswagen Group pledges $1 billion in funding to Rivian Automotive
RIVN Rivian Automotive Inc
$14.33 -0.07%
View chart & analysis → - 1Rivian Automotive received a $1 billion funding commitment from Volkswagen Group on Wednesday.
- 2The $1 billion amount for the joint venture's Loan A was provided at a fixed interest rate of 5.93%.
- 3The $1 billion amount for the Rivian subsidiary's Loan B was delivered via the subsidiary allocating funds to Rivian.
So what's the key point?
Volkswagen Group has agreed to lend $1 billion to Rivian Automotive. Rivian Automotive will secure funds through this amount.
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