VW launches $5.8bn tie-up with Tesla rival Rivian
Volkswagen Group (VW) and Tesla rival Rivian have launched a joint venture, with the German car giant increasing its investment in the partnership. The two companies say the the deal is now worth $5.8bn (£4.55bn) - up from an initial pledge of $5bn by VW.
Rivian and VW finalize joint venture worth up to $5.8B
The automakers are partnering to develop software for their next-generation EVs through a separate entity helmed by top Rivian and VW officials. Called “Rivian and VW Group Technology LLC,” the joint venture provides Volkswagen access to Rivian’s technology platform while juicing the startup’s balance book as it aims to make the jump to profitable company.
The companies said the deal is now up to $5.8 billion – up from $5 billion – with the first VW models to use Rivian's ...
The new agreement, which builds on an earlier announcement, calls for the German automaker to invest $5.8 billion in Rivian, ...
The joint venture targets Rivian’s existing electrical architecture and software technology stack, enabling the launch of ...
Rivian (RIVN) and Volkswagen, an upcoming EV startup and one of the world’s largest automakers, are teaming up to ...
Losses of 2 Billion dollars combined is a tough pill to swallow, but it took Tesla 14-years to turn a profit. Rivian lost a ...
Rivian and Volkswagen are set to launch their joint venture on Wednesday. The joint venture will focus on providing ...
Rivian experienced a production and supplier issue in the third quarter. Deliveries have slumped in 2024, which was partly ...
Rivian and Volkswagen Group have finalized a multi-billion-dollar joint venture to develop software, paving the way to let the German auto giant leverage the EV startup’s more technical chops in the ...
It’s time to open a new chapter in the history books. Rivian CEO RJ Scaringe said now is the time to act on climate change ...
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