07:17 AM EDT, 07/03/2024 (MT Newswires) -- Rivian Automotive ( RIVN ) denied plans for vehicle production with Volkswagen following a media report suggesting expanded partnership talks, Reuters said Tuesday.

A report on Tuesday from the German newspaper Handelsblatt indicated that an extended partnership might involve Volkswagen producing Rivian's smaller R2 SUVs at its South Carolina plant, according to Reuters.

In an email to the news outlet, Rivian's spokesperson clarified that no such production plans exist with Volkswagen and reiterated the company's intent to produce the R2 SUVs at their Illinois facility first, followed by a new plant in Georgia.

Meanwhile, Volkswagen declined to comment on the media report, Reuters said.

"We have not had any conversations about producing Rivian vehicles," a spokesperson for Scout Motors told Reuters.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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