$1 billion
That’s Rivian’s latest cash infusion from Volkswagen. It’s the second billion in a $5.8B tech JV, paid out after Rivian hit gross profit (finally). The deal: VW gets EV software; Rivian gets a lifeline. Think of it as funding your roommate’s startup in exchange for their Wi-Fi password.
Tags: software, startup, tech, Wi, Wi-Fi