• 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.
  • federal reverseM
    link
    fedilink
    English
    arrow-up
    3
    ·
    4 months ago

    Do they need saving? I thought they had Amazon’s money as backing.

    (Also I wonder — how will this news impact VW’s new Scout brand.)

    • Addv4@lemmy.world
      link
      fedilink
      English
      arrow-up
      1
      arrow-down
      1
      ·
      4 months ago

      Yeah, but even then they are loosing money on every van they make for them. It’s mostly R&D, but still.