<ul><li>After more than five years, Amazon has lost the top spot on Rivian’s shareholder list.</li><li>A huge legacy automaker is now the California startup’s biggest shareholder.</li><li>Rivian’s largest backer has committed to invest nearly $6 billion as long as things go according to plan.</li></ul><div><div id="ads_6122441_EV_ev_us_Rectangle_rectangle_first_1778241632"></div></div><p>Rivian, the California EV maker that brought us the fantastic R1S and R1T, and is now working around the clock to deliver the more affordable R2 SUV, has a new company at the top of its shareholder list.</p><p>Volkswagen Group is now Rivian’s largest shareholder, after investing roughly $3 billion in the American startup, with another $2.8 billion on the way if things go according to plan. According to the latest SEC documents filed by Rivian earlier this week, Volkswagen Group now owns 209.7 million shares of Rivian stock, which amounts to 15.9%, as spotted by TechCrunch.</p><section>        <span class="svg-search">                                                </span>                            <img src="https://imageproxy.pbkrs.com/https://cdn.motor1.com/images/static/16x9-tr.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Rivian R2 Assembly" width="16" height="9" original-src="https://imageproxy.pbkrs.com/https://cdn.motor1.com/images/static/16x9-tr.png"/>        <div><p>Rivian R2 Assembly</p></div>    <div>Photo by: Rivian</div></section><div></div><p>The German company’s stake started out at 8.6% less than two years ago, and has now displaced Amazon, which has been Rivian’s top shareholder for at least five years, and now owns a 12.28% stake in the EV startup. Amazon is also a huge customer for Rivian, ordering 100,000 electric delivery vans in 2019. The American e-commerce giant disclosed in 2021 that it held a 20% stake in the EV maker, but that number has gone down in recent years.</p><p>Volkswagen Group’s stake is bound to increase as Rivian continues to tick off the remaining milestones in the two companies’ agreement. In November 2024, Rivian and Volkswagen Group Technologies formed a joint venture that’s focused on the development of electrical architecture and software for electric vehicles.</p><p>The German automaker has committed to invest $5.8 billion in the California startup, but the money will come gradually. The partnership came with a $1 billion investment, which was followed up with another $1 billion last year. Last month, another $1 billion was unlocked after the Volkswagen ID. Every1 city EV completed winter testing. The upcoming small EV will be the first production car equipped with the joint venture’s software and electrical architecture.</p>    <hr/><div></div>    <div>        <span class="normal-label-xlarge">Tell us what you think!</span>        <div>                                                    <div>                <span class="top-counter-comments-prefix">View</span>                                    <div>                        <div></div>                    </div>                                <span class="top-counter-comments-suffix">Comments</span>            </div>        </div>    </div>    <hr/><div><div id="ads_6122441_EV_ev_us_Rectangle_rectangle_1_1778241632"></div></div><section> <p>More Stuff Like This</p> <div> <div>                    Rivian May Build Its Own Lidar Sensor For The R2 In The U.S. </div> <div>                    The Rivian R2 Costs Half As Much To Build As The R1S. Here's How Rivian Did It.  </div> <div>                    Rivian’s R2 Will Be Its First Global EV—And It’s Hiding A Cost-Cutting Trick </div> <div>                    Rivian’s Electric Van Is Finally Getting Big Updates </div> </div> </section>    <section>        <div>            <img src="https://imageproxy.pbkrs.com/https://cdn.motor1.com/custom/share/evus_newsletter_widget_logo.svg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Motor1.com INSIDER - logo" original-src="https://imageproxy.pbkrs.com/https://cdn.motor1.com/custom/share/evus_newsletter_widget_logo.svg"/>        </div>        <div>            <div>Stay informed with our newsletter every weekday</div>                        <div>                <div></div>                back            </div>                                             Subscribe                <span class="widget-newsletter__legal">For more info, read our Privacy Policy &amp; Terms of Use. </span>                    </div>    </section>                                                                                                                                                                                                                                                        <section><p><span>We want your opinion!</span></p><div><p>What would you like to see on Insideevs.com?</p>Take our 3 minute survey.</div><p>- The InsideEVs team</p></section>                                                                            <div>                                <div>                                    Share this Story                                </div>                                <div>                                    <ul>                            <li>                                                                                                                                            Facebook                                                                        </li>                                    <li>                                                                                                                                            X                                                                        </li>                            <li>                                                                                                                                            LinkedIn                                                                        </li>                            <li>                                                                                                                                            Flipboard                                                                        </li>                                                    <li>                                                                                                                                            Reddit                                                                        </li>                            <li>                                                                                                                                            WhatsApp                                                                        </li>                            <li>                                                                                                                                            E-Mail                                                                        </li>                                                                                    <li>                                                                                                                                                 copy                                                                        </li>                    </ul>                                </div>                                                                                                            <div>                                            <div>                                                                                                                                                                                                    <span class="top-counter-comments-label">GO TO COMMENTS</span>                                                                                                    <div>                                                        <span>(</span>                                                        <div></div>                                                        <span>)</span>                                                    </div>                                                                                            </div>                                        </div>                                                                                                </div>                                                            <div>                                    <div>                                        <span>Got a tip for us? Email:</span>                                                                                    tips@insideevs.com                                                                            </div>                                </div>                                                                                                                                                <div>                                                                            <div>                                            <div>                                            </div>                                        </div>                                        <div>                                        </div>                                                                    </div>                                                                                        <div id="comments-block-wrapper">                                    <div id="comments-stub"></div>                                    <div id="comments">                                                                                    <div id="m1-top-comments__wrapper">                                                <div id="m1-top-comments">                                                    <div>                                                        <div></div>                                                    </div>                                                </div>                                            </div>                                                                                                                            <a id="show-comments" rel="nofollow" target="_blank">                                                <span class="coral-coment-button-icon">                                                                                                                                                                                                                                                                                                                                    </span>                                                <span class="coral-coment-button-text">View all comments</span>                                                <span class="coral-coment-count-wrap">                                                    <span>(</span>                                                    <span class="coral-count coral-coment-button-number"></span>                                                    <span>)</span>                                                </span></a>                                                                                                                                                                                    <div id="coral_thread">                                                    <div>  <div>    <div></div>  </div>  <div></div>  <div></div>  <div></div>  <div>    <div>      <div></div>      <div></div>    </div>    <div></div>    <div>      <div></div>      <div></div>    </div>  </div>  <div></div>      <div>              <div></div>          </div>  </div>                                                </div>                                                                                                                        </div>                                </div>                                                            <div id="taboola-below-article-thumbnails"></div>

RIVN

VWAGY

QCLN

RVNL

CARZ

<p>Volkswagen Group has become Rivian's largest shareholder, surpassing Amazon after investing approximately $3 billion, with an additional $2.8 billion contingent on future milestones. Volkswagen now holds 15.9% of Rivian's shares, while Amazon's stake has decreased to 12.28%. The partnership includes a joint venture focused on electric vehicle technology, with Volkswagen committing to invest a total of $5.8 billion in Rivian over time. This shift marks a significant change in Rivian's financial backing as it continues to develop its R2 SUV and other electric vehicles.</p>

A Legacy Automaker Is Now Rivian’s Biggest Shareholder