Rivian Stock Sees Significant Surge Following Volkswagen Deal

Rivian's stock has taken a drastic turn for the better, thanks to a major investment from German automotive giant Volkswagen. The electric-vehicle maker's shares skyrocketed 41% in after-hours trading on Tuesday, following the announcement of a $1 billion investment from VW.

A Much-Needed Boost for Rivian's Production

This substantial investment is expected to provide Rivian with the necessary funding to ramp up production of its new, more affordable R2 vehicles at its Illinois facility. Additionally, the deal will support the development of the company's midsize electric vehicles.

What Does the Future Hold for Rivian Stock?

While the Volkswagen deal has undoubtedly given Rivian's stock a significant boost, investors are still left wondering what the future holds for the electric-vehicle maker. With the Rivian stock forecast looking more promising than ever, many are now asking: is Rivian stock a buy? Only time will tell, but one thing is certain – this deal has certainly given Rivian the momentum it needed to move forward.

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