Overview
- Volkswagen disclosed Monday in an SEC filing that it now holds 15.9% of Rivian, overtaking Amazon as the top outside shareholder.
- The stake rose after Volkswagen US bought 62.9 million new shares on April 30 at $15.90 each in a $1 billion tranche tied to winter tests of the joint venture’s zonal electrical architecture.
- Amazon’s roughly 158.4 million shares were unchanged yet now equal about 11.8% after Rivian’s Class A share count expanded to around 1.34 billion with the new issuances.
- Rivian also closed a $300 million private placement with Uber affiliate SMB Holding at $15.3422 per share, bringing about $1.3 billion of fresh equity across the two deals.
- Rivian’s CFO said the company expects about $2 billion more from Volkswagen in 2026 under the up to $5.8 billion software venture, and reporting says VW turned to Rivian after delays and cost overruns at its in‑house unit Cariad.