Auto Tech

Rivian prices shares at $78 in highly anticipated IPO

Rivian Automotive Inc. priced its highly anticipated initial public offering at $78 a share, well above its raised expectations, valuing the electric-vehicle maker at more than $77 billion on a fully diluted basis, according to a person familiar with the matter.

EU considers help for rare earth magnet production - sources

The EU is working on proposals to jump-start home output of a type of specialist magnet vital in electric car motors by offering support to local producers so they can compete with Chinese rivals, sources close to the situation said.