On October 7, local time, US electric vehicle manufacturer Rivian disclosed in submitted regulatory documents that the company had obtained a 10-year loan of 1 billion US dollars from Volkswagen Group, with an annual fixed interest rate of 6.03%. The loan is part of an arrangement relating to the parties' existing joint venture agreement. There is no recourse against Rivian and is secured by 50% of the joint venture's shares held by its wholly-owned subsidiary Rivian JV SPC, LLC.

On October 7, local time, US electric vehicle manufacturer Rivian disclosed in submitted regulatory documents that the company had obtained a 10-year loan of 1 billion US dollars from Volkswagen Group, with an annual fixed interest rate of 6.03%. The loan is part of an arrangement relating to the parties' existing joint venture agreement. There is no recourse against Rivian and is secured by 50% of the joint venture's shares held by its wholly-owned subsidiary Rivian JV SPC, LLC.