Rivian's $5 billion deal

Happy Friday morning. This is Car Alerts with your weekly recap of the latest car news and market happenings.

In today’s edition:

• Rivian/Volkswagen joint venture

• Dealer outage disrupts sales

• Latest research from J.D. Power

• Recent recalls

• and more

MARKETS 📈

HEADLINES 📰

Volkswagen to invest up to $5 billion in Rivian software deal, shares surge

Problems plague EVs despite traditional OEMs leveling playing field with Tesla

Dealer software system outages disrupt June sales; rapid recovery expected in July

Electric-vehicle maker Rivian simplifies output, cuts costs, aiming for first profit

BMW X2 snags 2024 ‘TOP SAFETY PICK’ award from IIHS

Nearly half of American EV owners want to switch back to gas-powered vehicle, McKinsey data show

China has spent at least $230 billion to build its EV industry, new study finds

Aston Martin thinks we've 'reached peak screen,' commits to physical interior buttons

Volvo’s most affordable EV delayed until 2025

RECALLS

Loose trim and windshield wiper motor failures cause recall of 23,000 Tesla Cybertrucks

2014 Ford F-150 downshift problems have caused a recall of more than 647,000 trucks

Volkswagen has recalled 307,000 Atlas and Atlas Cross Sport SUVs because the passenger airbags may deactivate

Cadillac XT5 and XT6 instrument panel failures have caused a recall of more than 6,700 SUVs

That’s all we have for you this week. We’ll see you next Friday morning with more car content.

Have feedback or want to get in touch? Please send us a note on Twitter (@CarAlerts). We’d love to hear from you.