Rivian outlines path to profitability with $5 billion VW assist: EV maker will share platform, scale its business, cut costs.

Rivian Automotive plans to use its cash reserves and a $5 billion investment from Volkswagen Group to scale its business and achieve profitability. The electric vehicle startup aims to cut costs for its R1 consumer vehicles and build those savings into next-generation R2 and R3 crossovers. Rivian will also share parts of its vehicle platform with VW Group in a joint venture focused on electrical architecture and related software. The company is targeting a $45,000 starting price for the R2 crossover, which is scheduled to launch in the first half of 2026. Rivian's long-term goal is to achieve positive earnings before interest, taxes, depreciation, and amortization by 2027. [Extracted from the article]

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