This week in the automotive industry, Volkswagen invests $1 billion in Rivian amid slow EV adoption, while Nvidia's stock surge supports S&P 500 amidst economic slowdown. General Motors Cruise names Mark Whitten CEO amidst autonomous vehicle relaunch efforts, as Cox Automotive predicts slowing sales growth and increased incentives amid rising inventory levels and election-year scrutiny. Join us Friday for more business updates on C2 Business!

Bulletin brief

Rivian shares soar 30% after Volkswagen takes $1 billion stake (CNBC)

Nvidia rebounds, and it’s back to masking losses for the rest of Wall Street (AP)

GM’s Cruise names former Amazon, Microsoft Xbox executive as new CEO (CNBC)

U.S. auto sales are expected to slow during the second half of 2024 (CNBC)

Election uncertainty may impact U.S. auto industry, report says (Reuters)