Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Chinese carriers in Pacific show country’s ‘expansionist’ aims, Taiwan says
    • Dozens of white rhinos relocated from South Africa to Rwanda | Wildlife News
    • Deion Sanders away from Colorado with mystery health issue
    • Rice Crisis In Japan Continues
    • Fake Tears and No Sound: Newsom’s Formal Address to California Amid Los Angeles Riots is a Dumpster Fire (VIDEO) | The Gateway Pundit
    • Treasury chief returns to US as China trade talks ongoing
    • Are India and Pakistan preparing for a naval face-off in a future conflict? | India-Pakistan Tensions News
    • Ranking NFL minicamp holdouts from most to least concerning
    News Study
    Wednesday, June 11
    • Home
    • World News
    • Latest News
    • Sports
    • Politics
    • Tech News
    • World Economy
    • More
      • Trending News
      • Entertainment News
      • Travel
    News Study
    Home»Tech News

    German car maker VW to invest up to $5bn in Tesla rival Rivian

    Team_NewsStudyBy Team_NewsStudyJuly 15, 2024 Tech News No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    German automobile making large Volkswagen (VW) says it should make investments as much as $5bn (£3.94bn) in Tesla rival Rivian.

    The deal creates a three way partnership that may permit VW and the US-based electrical automobile (EV) maker to share expertise.

    Rivian shares jumped by nearly 50% after the announcement.

    The tie-up comes as competitors intensifies between EV makers and Western international locations transfer to impose tariffs on Chinese language imports.

    Beneath the settlement, VW stated it should initially make investments $1bn within the electrical truck and SUV maker, with one other $4bn to be put into the corporate by 2026.

    Based in 2009, Rivian has not but posted a quarterly revenue. Within the first three months of 2024 the corporate noticed a web lack of greater than $1.4bn.

    VW, like different motor business giants, has come below strain from rivals like Tesla and China’s BYD because it tries to make the shift from fossil fuel-powered automobiles.

    In the meantime, some EV start-ups have struggled to make headway within the extremely aggressive market and as increased rates of interest hit demand for giant ticket purchases.

    The partnership will give VW rapid entry to Rivian’s software program permitting the German automobile maker to make use of it in its vehicles.

    Motor business giants like VW have additionally been going through rising competitors from Chinese language EV makers, which have been increasing globally.

    Earlier this month, the European Union (EU) warned that it will raise tariffs on Chinese EV imports by as much as 38%.

    Officers from China and the EU have held talks ahead of a 4 July deadline.

    A months-long investigation by the European Fee discovered that Chinese language EV firms had been “unfairly subsidised”.

    In response, China stated the tariffs violated worldwide commerce guidelines and described the investigation as “protectionism”.

    The plan got here only a month after the US stated it should enhance import levies on Chinese language EVs from 25% to 100%.

    This week, Canada stated that it was contemplating an identical transfer to align itself with allies.

    Individually on Tuesday, Tesla stated it will recall most of its Cybertrucks offered within the US over points with their windscreen wipers and exterior trim.

    The remembers cowl greater than 11,000 of the automobiles, which first went on sale on the finish of November final 12 months.



    Source link

    Team_NewsStudy
    • Website

    Keep Reading

    John L. Young, 89, Dies; Pioneered Posting Classified Documents Online

    Los Angeles Protests Amplified by Influencers and Online Creators

    IBM Tackles New Approach to Quantum Error Correction

    The Dual-Use Dilemma in Open-Source Robotics

    4chan and porn sites investigated by Ofcom

    Uber brings forward trialling driverless taxis in UK

    Add A Comment
    Leave A Reply Cancel Reply

    Editors Picks

    Chinese carriers in Pacific show country’s ‘expansionist’ aims, Taiwan says

    June 11, 2025

    Dozens of white rhinos relocated from South Africa to Rwanda | Wildlife News

    June 11, 2025

    Deion Sanders away from Colorado with mystery health issue

    June 11, 2025

    Rice Crisis In Japan Continues

    June 11, 2025

    Fake Tears and No Sound: Newsom’s Formal Address to California Amid Los Angeles Riots is a Dumpster Fire (VIDEO) | The Gateway Pundit

    June 11, 2025
    Categories
    • Entertainment News
    • Latest News
    • Politics
    • Sports
    • Tech News
    • Travel
    • Trending News
    • World Economy
    • World News
    About us

    Welcome to NewsStudy.xyz – your go-to source for comprehensive and up-to-date news coverage from around the globe. Our mission is to provide our readers with insightful, reliable, and engaging content on a wide range of topics, ensuring you stay informed about the world around you.

    Stay updated with the latest happenings from every corner of the globe. From international politics to global crises, we bring you in-depth analysis and factual reporting.

    At NewsStudy.xyz, we are committed to delivering high-quality content that matters to you. Our team of dedicated writers and journalists work tirelessly to ensure that you receive the most accurate and engaging news coverage. Join us in our journey to stay informed, inspired, and connected.

    Editors Picks

    Why Argentina is back in love with the peso — for now

    February 12, 2025

    Janelle Brown Says Son’s Death Brought Family Closer

    September 14, 2024

    Air report a warning of things to come

    May 27, 2025

    Jaguars are making the right decision with QB Trevor Lawrence

    December 5, 2024
    Categories
    • Entertainment News
    • Latest News
    • Politics
    • Sports
    • Tech News
    • Travel
    • Trending News
    • World Economy
    • World News
    • Privacy Policy
    • Disclaimer
    • Terms & Conditions
    • About us
    • Contact us
    Copyright © 2024 Newsstudy.xyz All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.