VW Partnership Can Be Gamechanger for Rivian: Dan Ives

Dan, I want to just get started with why you think this is a beneficial deal for Volkswagen. I understand why it might be beneficial for Rivian. Why does this make sense all around? Well, this is the horse that they're betting on and it's an established EV player that just had capital issues and supply issues. Huge vote of confidence for RJ and Rivian to get this VW capital in. And I think it's just the start. I mean, this is really ultimately what could be more and more. Of a partnership that changes the game for Rivian takes the bear case, the Uber bear case off the table. Dan what about the awkward fact that VW has an electric car a truck that they've invested in. They have scout. Are they not going to start cannibalizing themselves? Look, I think for them it's ripping the Band-Aid off. It's recognizing if they're betting on someone Rivian they they needed some and and ultimately even as Amazon sort of step back a bit. And for VW, it's a huge bet. And look, they could still have some success on some of their own ventures. But in terms of what Rivian's built, I'm adding this is the start of just a broader partnership as well as also gets Rivian into Europe. And we'll see in terms of potentially new models that they could come out with potentially VW branded. So this is it's a huge win for both and I think for investors, a major sigh of relief.