A Joint Venture with Volkswagen Provides Rivian with a $5 Billion Lifeline

As manufacturers of all sizes reevaluate their approaches in a stalling electric-vehicle industry, Rivian Automotive Inc. will receive a much-needed cash infusion through a new cooperation with Volkswagen AG. Plans for a joint venture between the firms were unveiled, with VW contributing an initial $1 Continue Reading

In Volkswagen’s payments unit, JPMorgan is purchasing a greater part stake

JPMorgan plans to purchase a larger part stake of near 75% in Volkswagen’s installments business. Volkswagen’s installment division will go under the control of JPMorgan’s discount installments business. It’s the most recent in a series of acquisitions and speculations by JPMorgan this year. JPMorgan said Continue Reading

Toyota Motor Corp beats Volkswagen to become World’s No.1 car seller in 2020

Japan’s Toyota Motor Corp overtook Germany’s Volkswagen in vehicle sales a year ago, recovering shaft position as the world’s top selling automaker for the first time in five years as the pandemic demand slump hit its German opponent harder. Toyota said on Thursday its group-wide Continue Reading