What does a Partnership between Apple and Rivian Mean?

What does this mean for the future of electric vehicles? 

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For a long time, Apple has been thinking about making electric vehicles, but what stopped them? Apple invested around 10 billion US dollars to try and create an EV: The Titan. Project Titan was supposed to rival Tesla's electric cars, but as a result of high costs and labor expenses, the project was scrapped. Still, Apple is looking to diversify its ecosystem with more electric-based vehicles. That's where Rivian’s EV comes in. Considering Rivian’s current progress, this partnership could be beneficial for both companies and, more importantly, the future of electric vehicles. Maybe Tesla will have a new rival. Maybe Rivian will be the next popular electric vehicle. With Apple’s partnership, Rivian will gain brand recognition, faster product production, and new technologically based innovations. This possibility of advancement could propel Rivian to the forefront of the EV industry, and, more importantly, change the future of EVs.

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What does this hold for the future of both companies? 

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A look at their price charts reveals that both Apple stock and Rivian stock have been going up lately. Apple will benefit by partnering with a company that has created something they wanted for a long time: electric vehicles. This collaboration will add to Apple’s knowledge of electric cars as they failed to create “The Titan.” Additionally, Rivian just received a new “$827 million incentive package from Illinois’ Department of Commerce & Economic Opportunity '' to help with their R2 car production. With Apple’s resources and Rivian's EV knowledge, coming together would contain a huge benefit for both companies, which may be reflected in their price charts. I believe that Apple stock and Rivian stock will play out nicely in the long term if they do become partners and succeed in combining their ideas and expertise.