Rivian Automotive Inc RIVN shares are buying and selling decrease in Tuesday’s after-hours session following experiences the corporate has no plans to provide automobiles with Volkswagen beneath the just lately introduced three way partnership.What To Know: In accordance with Benzinga Professional headlines citing Reuters, Rivian and Volkswagen don’t plan to companion on {hardware} or produce automobiles collectively as a part of the deliberate three way partnership introduced final week.The information follows German media experiences suggesting that the 2 firms have been in talks to develop their software program partnership to {hardware} and joint manufacturing. Sources conversant in the matter reportedly mentioned the 2 firms have been discussing potential manufacturing of the R2 platform at Volkswagen’s deliberate plant in South Carolina. Rivian has shut down the experiences, stating there aren’t any adjustments to its R2 manufacturing plans. The corporate nonetheless intends to construct the R2 platform automobiles at its plant in Regular, Illinois, and can ramp up its Georgia plant from there.Rivian and Volkswagen introduced final Tuesday that the automakers would enter right into a three way partnership to create next-generation software-defined car platforms for use in each firms’ future electrical automobiles. Volkswagen will initially make investments $1 billion and is anticipated to speculate an extra $4 billion over time as a part of the transaction.RIVN Value Motion: Rivian shares have been down 1.48% at $14.67 after hours after rallying practically 7% in Tuesday’s common session, in keeping with Benzinga Professional.Don’t Miss:• Inventory Of The Day: Tesla’s Q2 Deliveries Spark Rally – Will Resistance Halt The Climb?Picture: Courtesy of Rivian.Market Information and Information delivered to you by Benzinga APIs© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.