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Stock impact report

Volkswagen's entry-level electric car targeted at Europe, brand chief says [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
brand chief said on Wednesday, adding the carmaker needed until then to bring down battery costs to sell it at that price. The car will be the first in Volkswagen's line-up to feature software from its joint venture with U.S.-based EV maker Rivian, which requires fewer electronic control units and significantly less wiring, reducing vehicle weight and simplifying manufacturing. The Volkswagen brand is planning eight new affordable electric models by 2027, including a 25,000-euro model called the ID.2 expected to hit the market this year. While only a handful of models, such as the Dacia Spring or Leapmotor's T03, exist in Europe for under 20,000 euros, 11 new models priced under 25,000 euros will go on sale on the continent this year including the Renau Read more
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