German carmaker Volkswagen to invest up to $5bn in US-based electric vehicle company Rivian to share technology ( rivian.com )

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.
yessikg ,
@yessikg@lemmy.blahaj.zone avatar

Rivian's delivery vans are top tier, I can definitely see VW wanting to create their our van based on Rivian's

CoffeeJunkie ,

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.

technocrit ,

Whatever it takes to force expensive, unsustainable EVs on humanity.

finley ,

Neat

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