Rivian is selling 75 million shares in an underwritten public offering expected to raise approximately $1.5 billion. The equity sale follows a recent rally triggered by stronger-than-expected Q2 deliveries and a raised full-year outlook, with proceeds targeting the R2 program.
Shares jumped after the company reported better-than-forecast second-quarter deliveries together with an improved full-year outlook.
The offering comes as Rivian seeks to strengthen its balance sheet amid ongoing EV market pressures.
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Tesla marked the start of high-volume Semi production at its new Sparks, Nevada factory on September 24. The plant, which Tesla says covers 1.8 million square feet, is built to scale to 50,000 trucks annually.
Tesla postponed its next-gen Roadster reveal from October 1 to October 15, citing severe weather for an outdoor-only event. The company said additional details will follow and did not announce a new start time.
Volkswagen's supervisory board has unanimously approved the Future Plan 2030, which includes an additional 50,000 job cuts worldwide to reach a total of around 100,000 and leaves four German plants without secured future vehicle production after 2031-2034. The move aims to reduce costs and improve competitiveness against Chinese rivals, with alternative uses for the factories to be examined by June 2027.
BMW has completed a $1.7 billion investment in its South Carolina plants to begin producing fully electric vehicles in the US, with the iX5 SUV starting late 2026. The move underscores the carmaker's commitment to American manufacturing and positions South Carolina as a central hub for its global EV output.
Toyota is pushing back output of its initial three-row battery-electric SUV, the 2027 Highlander BEV, and will keep the existing gasoline and hybrid Highlander models on sale longer while three new electric SUVs gain U.S. traction.
