Trending: Volkswagen Partners With EV Maker Rivian Automotive

0912 GMT - Volkswagen is among the most mentioned companies across news items over the past six hours, according to Factiva data, after the German automaker outlined a partnership with electric-vehicle maker Rivian Automotive. Under the pact, VW will invest $1 billion in Rivian and spend up to $5 billion as part of a software-development partnership. "A partnership between Volkswagen and Rivian Automotive solves problems for both companies, giving much-needed liquidity to the U.S. electric-vehicle company and offering some help to the German giant with its software challenges," RBC Capital Markets analyst Tom Narayan said. The deal also gives VW exposure to the U.S. sport-utility-vehicle and pickup market, he added. Meanwhile, Berenberg analyst Romain Gourvil noted that the company's move shows an increasing push for partnerships over more cost-intensive insourcing. Dow Jones & Co. owns Factiva. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

June 26, 2024 05:51 ET (09:51 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.