Volkswagen becomes Rivian’s top shareholder, displacing Amazon
Volkswagen becomes Rivian’s top shareholder, displacing Amazon
大众汽车取代亚马逊，成为 Rivian 最大股东
Volkswagen has pushed Amazon out of the top spot to become Rivian’s largest shareholder, new filings with the U.S. Securities and Exchange Commission show. VW Group’s increasing equity stake in Rivian, which has grown from 8.6% to 15.9% in less than two years, is tied to a joint venture with the EV startup. 根据美国证券交易委员会（SEC）的最新文件显示，大众汽车已将亚马逊挤下榜首，成为 Rivian 的最大股东。大众集团在 Rivian 的股权占比在不到两年内从 8.6% 增长至 15.9%，这与双方成立的电动汽车合资企业密切相关。
The Rivian and Volkswagen Group Technologies joint venture — officially formed in November 2024 — is focused on the development of electrical architecture and software. And that stake will continue to grow, as long as Rivian continues to meet its end of the deal. VW has committed to invest $5.8 billion into Rivian, capital that is unlocked as certain milestones are reached. Rivian 与大众集团技术合资公司于 2024 年 11 月正式成立，专注于电气架构和软件的开发。只要 Rivian 继续履行协议条款，大众的持股比例将持续增长。大众已承诺向 Rivian 投资 58 亿美元，这笔资金将在达成特定里程碑后分批解锁。
The German automaker kicked off the deal with an initial $1 billion investment, followed by another $1 billion in mid-2025. Rivian received another $1 billion last month after completing winter testing of the VW ID.EVERY1, a small four-door hatchback that will be the first vehicle under the joint venture to be equipped with its software and electrical architecture. 这家德国汽车制造商以 10 亿美元的初始投资开启了这项交易，随后在 2025 年年中又追加了 10 亿美元。上个月，在完成大众 ID.EVERY1 的冬季测试后，Rivian 又获得了 10 亿美元。ID.EVERY1 是一款小型四门掀背车，将成为合资公司旗下首款搭载其软件和电气架构的车型。
The latest SEC documents, filed Monday, show that VW Group now owns 209.7 million shares of Rivian stock. Amazon, a longtime backer and customer, holds 12.28% of Rivian. Amazon was an early backer of Rivian, investing $700 million into the company when it was still a privately held upstart. The company disclosed in 2021, ahead of Rivian’s IPO, that it held a 20% stake in Rivian. 周一提交的最新 SEC 文件显示，大众集团目前持有 2.097 亿股 Rivian 股票。作为长期的支持者和客户，亚马逊目前持有 Rivian 12.28% 的股份。亚马逊是 Rivian 的早期投资者，在后者仍是一家私营初创公司时就投入了 7 亿美元。2021 年 Rivian IPO 前夕，亚马逊曾披露其持有 Rivian 20% 的股份。
Amazon is not only an investor in Rivian, but it’s also a customer. In September 2019, Rivian entered into an agreement with Amazon to produce 100,000 electric delivery vans. Other top shareholders include Oryx Global with an 8.6% share, and Vanguard with 5.1%. Rivian founder and chief executive RJ Scaringe holds a roughly 1.1% stake in the company. 亚马逊不仅是 Rivian 的投资者，也是其客户。2019 年 9 月，Rivian 与亚马逊达成协议，为其生产 10 万辆电动送货车。其他主要股东包括持股 8.6% 的 Oryx Global 和持股 5.1% 的先锋领航（Vanguard）。Rivian 创始人兼首席执行官 RJ Scaringe 持有公司约 1.1% 的股份。
Volkswagen’s deal with Rivian came at a critical moment for the EV maker as it poured millions of dollars into R&D and pushed to bring its R2 from the design studio to the assembly line. Rivian started production of the R2 in April and is expected to begin delivering the midsized SUV to customers in the coming weeks. 大众与 Rivian 的交易对这家电动汽车制造商来说正值关键时刻，当时它正投入数百万美元进行研发，并努力将其 R2 车型从设计工作室推向生产线。Rivian 于 4 月开始生产 R2，预计将在未来几周内开始向客户交付这款中型 SUV。
If successful, the VW-Rivian joint venture could lead to future tech licensing deals with other companies or new categories. For instance, the joint venture with VW excludes AI and autonomy, two areas that Rivian has focused considerable capital toward in recent years. 如果进展顺利，大众与 Rivian 的合资企业可能会促成未来与其他公司的技术许可交易或开拓新领域。例如，与大众的合资项目不包括人工智能和自动驾驶，而这两个领域正是 Rivian 近年来投入大量资金的重点。
Rivian plowed $1.7 billion on R&D in 2025, up from $1.6 billion in 2024, the company’s annual filing shows. Much of that has been directed toward its autonomy efforts — so much that it has prompted the company to push its profitability goal past 2027. In a filing that detailed Rivian’s new partnership with Uber, Rivian disclosed it doesn’t expect to be EBITDA positive next year because of its R&D spending. 公司年度报告显示，Rivian 在 2025 年投入了 17 亿美元用于研发，高于 2024 年的 16 亿美元。其中大部分资金流向了自动驾驶领域，以至于公司不得不将盈利目标推迟到 2027 年之后。在一份详述 Rivian 与 Uber 新合作关系的文件中，Rivian 披露由于研发支出巨大，预计明年无法实现 EBITDA（息税折旧摊销前利润）转正。