Volkswagen becomes Rivian's largest shareholder, surpassing Amazon with a 15.9% stake.

Volkswagen has overtaken Amazon to become the largest shareholder in electric vehicle maker Rivian, increasing its stake from 8.6% to 15.9% in under two years. This growth is linked to a joint venture formed in November 2024 focused on developing electrical architecture and software for EVs. Volkswagen has committed $5.8 billion to Rivian, with investments released as milestones are met, including recent funding after successful winter testing of the VW ID.EVERY1. Rivian is ramping up production of its R2 SUV, and the partnership could lead to future technology licensing deals, although it excludes AI and autonomy, areas where Rivian continues heavy R&D investment.