Rivian Bullish Historical Trend Continued
Volkswagen earlier today confirmed my initial thesis. In my previous thesis I spoke about the VW potential acquisition of Rivian (RIVN). It was confirmed today by Volkswagen that they have officially acquired a minority stake in Rivian ( tradingview.com/news/mtnewswires.com:20240729:A3188286:0/ ).
Earlier this month news broke about Volkswagen's 5 Billion dollar deal with Rivan on a joint venture project. Many people including myself saw this as an opportunity for VW to add a EV company to its umbrella of brands. Well as of today, it was confirmed that VW now does have a minorty stake in the acquisition of Rivian. My initial feeling about the joint venture project was that this was a way of slowly acquiring the EV company. Rivian will use the money to launch themselves further while still maintaining their independence or that this was a pre-acquisition/takeover. Granted that takeover may be a strong word but essentially that is what is happening.
"When it comes to cooperation projects set up to develop new products and technologies in key cutting-edge sectors, particularly those involving large companies, we take a close look at competition in innovation," Bundeskartellamt President Andreas Mundt said in a statement on Friday. "The project does not raise any concerns in this respect, nor does it raise any other serious competition concerns."
~MT Newswire
Like and comment your thoughts on this ongoing project?
Earlier this month news broke about Volkswagen's 5 Billion dollar deal with Rivan on a joint venture project. Many people including myself saw this as an opportunity for VW to add a EV company to its umbrella of brands. Well as of today, it was confirmed that VW now does have a minorty stake in the acquisition of Rivian. My initial feeling about the joint venture project was that this was a way of slowly acquiring the EV company. Rivian will use the money to launch themselves further while still maintaining their independence or that this was a pre-acquisition/takeover. Granted that takeover may be a strong word but essentially that is what is happening.
"When it comes to cooperation projects set up to develop new products and technologies in key cutting-edge sectors, particularly those involving large companies, we take a close look at competition in innovation," Bundeskartellamt President Andreas Mundt said in a statement on Friday. "The project does not raise any concerns in this respect, nor does it raise any other serious competition concerns."
~MT Newswire
Like and comment your thoughts on this ongoing project?
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.