Volkswagen becomes Rivian’s top shareholder, displacing Amazon - BERITAJA

Volkswagen has pushed Amazon retired of the apical spot to go Rivian’s largest shareholder, caller filings pinch the U.S. Securities and Exchange Commission show.

VW Group’s expanding equity liking successful Rivian, which has grown from 8.6% to 15.9% successful little than 2 years, is tied to a associated task pinch the EV startup. The Rivian and Volkswagen Group Technologies associated task — officially formed successful November 2024 — is focused connected the improvement of electrical architecture and software.

And that liking will proceed to grow, arsenic agelong arsenic Rivian continues to meet its extremity of the deal.

VW has committed to put $5.8 cardinal into Rivian, superior that is unlocked arsenic definite milestones are reached. The German automaker kicked disconnected the woody pinch an first $1 cardinal investment, followed by another $1 billion successful mid-2025.

Rivian received another $1 billion past period aft completing wintertime testing of the VW ID.EVERY1, a mini four-door hatchback that will beryllium the first conveyance nether the associated task to beryllium equipped pinch its package and electrical architecture.

The latest SEC documents, revenge Monday, show that VW Group now owns 209.7 cardinal shares of Rivian stock.

Amazon, a longtime backer and customer, holds 12.28% of Rivian. Amazon was an early backer of Rivian, investing $700 million into the institution erstwhile it was still a privately held upstart. The institution disclosed successful 2021, up of Rivian’s IPO, that it held a 20% stake successful Rivian. Amazon is not only an investor successful Rivian; it’s besides a customer. In September 2019, Rivian entered into an statement pinch Amazon to nutrient 100,000 electrical transportation vans.

Other apical shareholders see Oryx Global pinch an 8.6% share, and Vanguard pinch 5.1%. Rivian laminitis and main executive RJ Scaringe holds a about 1.1% liking successful the company.

Volkswagen’s woody pinch Rivian came astatine a captious infinitesimal for the EV shaper arsenic it poured millions of dollars into R&D and pushed to bring its R2 from the creation workplace to the assembly line. Rivian started production of the R2 successful April and is expected to statesman delivering the mid-sized SUV to customers successful the coming weeks.

If successful, the VW-Rivian associated task could lead to early tech licensing deals pinch different companies aliases caller categories. For instance, the associated task pinch VW excludes AI and autonomy, 2 areas that Rivian has focused sizeable superior towards successful caller years. Rivian plowed $1.7 cardinal connected R&D successful 2025, up from $1.6 cardinal successful 2024, the company’s annual filing shows. Much of that has been directed towards its autonomy efforts — truthful overmuch that it has prompted the institution to push its profitability extremity past 2027.

In a filing that detailed Rivian’s caller business pinch Uber, Rivian disclosed it doesn’t expect to beryllium EBITDA positive adjacent twelvemonth because of its R&D spending.