
Rivian Automotive, Inc. (NASDAQ:RIVN) shares were steady on Wednesday as the electric vehicle maker’s partnership with Volkswagen AG (OTC:VWAGY) came into sharper focus at the IAA Mobility event in Munich.
The German automaker showcased its new semiconductor procurement framework at the 4th Semiconductor Summit, emphasizing a collaboration with Rivian and Volkswagen Group Technologies to jointly source more than 50 categories of chips.