Rivian CEO says new partnership will provide financial security for the company

Rivian has delayed construction of its Georgia plant due to a lack of funds. To address this, they applied for a federal loan in October. Rivian CEO RJ Scaringe said that this partnership and transaction with Volkswagen Group will provide the company with financial security to ensure that they can launch R2 in Normal and bring positive cash flow to the business with the launch and development of the Georgia plant.