German carmaker Volkswagen to invest up to $5bn in US-based electric vehicle company Rivian to share technology
German carmaker Volkswagen to invest up to $5bn in US-based electric vehicle company Rivian to share technology
rivian.com Rivian
Rivian is an electric vehicle manufacturer on a mission to keep the world adventurous forever.
cross-posted from: https://feddit.org/post/181995
- Rivian and Volkswagen Group intend to enter a joint venture to create next generation software-defined vehicle (SDV) platforms to be used in both companies’ future electric vehicles.
- Volkswagen Group to invest an initial $1 billion in Rivian, with up to $4 billion in planned additional investment for a total expected deal size of $5 billion.
- Joint venture is expected to build on Rivian’s industry-leading software and electrical architecture to create best-in-class software-defined vehicle technology platform.
- The tie-up comes as competition intensifies between EV makers and Western countries move to impose tariffs on Chinese imports.
4
comments
Rivian's delivery vans are top tier, I can definitely see VW wanting to create their our van based on Rivian's
Neat
Whatever it takes to force expensive, unsustainable EVs on the imperial core.
Rivian is an expensive failure. 😂 They're going to steal VW 's money, whatever is invested, and they're going to spend it all before VW can get it back. So...they're going to lose at least $1B.