Volkswagen AG and its wholly-owned subsidiary, Volkswagen International America Inc. (VIA), have filed a Schedule 13G with the United States Securities and Exchange Commission on October 7, 2024, indicating a significant stake in Rivian Automotive, Inc. The filing reveals that VIA directly beneficially owns 82,935,213 shares of Rivian's Class A common stock, representing 7.7% of the company's class. This ownership is connected to a Senior Convertible Promissory Note, which will automatically convert into shares of Rivian's common stock on the later of December 1, 2024, or upon receiving certain regulatory approvals. The conversion rate is partially fixed at $10.8359 per share and partially based on a floating price determined by Rivian's trading performance. The filing asserts that the shares were not acquired for the purpose of changing or influencing the control of Rivian Automotive.

Volkswagen AG and its wholly-owned subsidiary, Volkswagen International America Inc. (VIA), have filed a Schedule 13G with the United States Securities and Exchange Commission on October 7, 2024, indicating a significant stake in Rivian Automotive, Inc. The filing reveals that VIA directly beneficially owns 82,935,213 shares of Rivian's Class A common stock, representing 7.7% of the company's class. This ownership is connected to a Senior Convertible Promissory Note, which will automatically convert into shares of Rivian's common stock on the later of December 1, 2024, or upon receiving certain regulatory approvals. The conversion rate is partially fixed at $10.8359 per share and partially based on a floating price determined by Rivian's trading performance. The filing asserts that the shares were not acquired for the purpose of changing or influencing the control of Rivian Automotive.