Volkswagen becomes Rivian’s top shareholder, displacing Amazon

Volkswagen has become Rivian’s largest shareholder after increasing its stake to 15.9%, overtaking Amazon’s 12.28%.

The change comes through a $5.8 billion joint-venture investment tied to Rivian meeting technical milestones.

The deal gives Volkswagen deeper strategic influence over Rivian’s software and electrical architecture.

The partnership could affect Rivian’s funding, technology licensing, and future EV development, including the R2 SUV.