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Barchart
Barchart
Mohit Oberoi

Uber and Volkswagen See Value in Rivian: Should You Too Buy RIVN Stock?

Rivian Uber RIVN Volkswagen Lucid Tesla Inc.

While the electric vehicle (EV) industry remains challenged and continues to grapple with massive overcapacity and tepid demand, it still attracts interest. Earlier this month, Uber (UBER) announced that it would invest up to $1.25 billion in Rivian (RIVN) and buy up to 50,000 of its upcoming R2 vehicles for its robotaxi fleet.

Notably, last year Uber also entered into a similar partnership with Lucid Group (LCID), but the scale was much lower than what it has now announced with Rivian. In 2024, Volkswagen (VWAGY) announced that it would invest up to $5.8 billion in Rivian and form a joint venture with the U.S. EV startup.

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