Rivian Secures $1B from Volkswagen Amid EV Sales Challenges

Rivian Automotive has secured a $1 billion equity investment from Volkswagen Group as part of a planned $5.8 billion joint venture focused on developing next-generation software-defined vehicle platforms for electric vehicles. Despite ongoing industry challenges, Rivian reaffirmed its full-year delivery guidance of 40,000 to 46,000 vehicles after reporting second-quarter production of 5,979 vehicles and deliveries of 10,661 units. The company emphasizes sustainability with its factory partially powered by renewable energy and its Rivian Adventure Network fast-charging stations designed to be fully renewable-powered. Meanwhile, Uber co-founder and current CEO Travis Kalanick is reportedly partnering with investors to acquire the U.S. division of Chinese autonomous vehicle company Pony AI, with possible support from Uber. Eric Meyhofer, a Kalanick ally and former head of Uber’s autonomous driving division Uber ATG, is involved in this initiative. Several mobility news outlets are transitioning their newsletters to the Beehiiv platform to enhance reader engagement.