Business
Irvine-based Rivian got a big boost: Volkswagen agreed to invest up to $5 billion in a joint venture with the struggling maker of electric trucks.
Volkswagen’s fuel leak recall covers certain Audi A3s and VW Golfs and GTIs from the 2015 through 2020 model years. Also included are 2015 through 2019 Golf Sportwagens and 2019 and 2020 VW Jettas.
Volkswagen is preparing an initial public offering of Porsche, seeking a listing of its most profitable asset to help boost the parent’s valuation and fund the push into electric vehicles.
The maker of electric vehicles and trucks has faced numerous challenges as the EV market has cooled, but its CEO is optimistic about Rivian’s future thanks to a joint venture with Volkswagen Group.
The Irvine maker of electric pickup trucks and sport utility vehicles reported lower-than-expected revenue in the third quarter.
California
Los Angeles County sheriff’s deputies found two men shot outside a VFW hall in La Mirada. Eric Ortiz, 34, was killed. Juan Garcia, a member of the Mexican Mafia called “Topo,” was seriously injured, according to a law enforcement source.
Climate & Environment
Tesla sales declined for the first time in the company’s history last year, reflecting what analysts said was a lack of new models.
Entertainment & Arts
Ahead of the release of his new Netflix special, ‘Legend of Fluffy,’ the SoCal-bred comedian talks about his career, why he thinks he’s had longevity and what comedy means to him.
Electric vehicle maker Rivian cut its production targets this week amid an ongoing supply shortage, causing its stock to drop more than 3% on Friday.
The Orange County Board of Supervisors approved the reward money for three tipsters who provided key information that led to the suspects’ arrest in 2021.