Rivian-Volkswagen joint venture deal rises to up to $5.8 billion, VW cars expected as early as 2027
The companies said the deal is now up to $5.8 billion, with the first VW models to use Rivian's software and electrical architecture arriving as early as 2027.
Rivian And VW's $5.8B Joint Venture Will Power A Lot, Including 'Subcompact Cars'
The venture will be jointly run by Rivian's Chief Software Officer, Wassym Bensaid, and Carsten Helbing, Volkswagen Group's CTO. They'll serve as co-CEOs. It'll be based in Palo Alto, California, to start. Three more sites are in development North America and Europe, the companies said on Tuesday.
The Rivian-Volkswagen joint venture deal is now up to $5.8B
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 coming years.
Rivian and VW Group Announce the Launch of their Joint Venture
Rivian and Volkswagen Group entered into a transaction agreement to create their new joint venture (JV) Rivian and VW Group Technology, LLC.
Inside VW and Rivian’s Big Bet to Rescue Each Other
The world’s second-largest automaker and the Silicon Valley startup are trying to address each other’s core weakness.
Volkswagen Boosts Bet on Rivian’s EV Tech by $800 Million
Volkswagen AG raised investment plans in Rivian Automotive Inc. by $800 million, signaling its commitment to the US partner even as electric-vehicle demand softens and the incoming Trump administration threatens to curtail supportive policies.
VW and Rivian officially kick off $5.8 billion joint venture, announce leadership
Volkswagen and Rivian have crossed all their T’s and dotted all their I’s in their new $5.8 billion joint venture, which officially kicks off its work on November 13th, the companies announced today.
Rivian and VW Are Going At It Together
Rivian (RIVN) is losing over $1B per quarter, or $30K-$40K on each truck it sells, with current volumes not enough to sustain its spend rate. Unless it acted quickly, bankruptcy could have been in the cards,
VW-Rivian Announce Billion Dollar Venture
Volkswagen said it would invest up to $5.8 billion in a joint venture with Rivian Automotive. The German automaker plans to invest up to $5.8 billion in Rivian. Watch this report for more details!
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Volkswagen raises investment in Rivian to $5.8 billion
The joint venture - named Rivian and VW Group Technology LLC - aims to integrate advanced electrical infrastructure and ...
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This 2-Cylinder VW Sports Car Revved To 11,000 RPM And Had A 168-MPH Top Speed
It was based on a limited-run supercar VW had built later that year, called the XL1. The XL1 made its debut a year before the ...
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Volkswagen, Rivian form $5.8bn JV to drive innovation in EV technology
Volkswagen and Rivian have expanded their partnership to drive innovation in electric vehicle (EV) technology.
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That Time Volkswagen Tried To Turn The Beetle Into A Blistering Hot Hatch
Nearly fifteen years ago, the Beetle came close to having its very own R version. Here's the story of the VW hot hatch that ...
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Volkswagen hits speed bumps in its race to an all-electric future
It wasn't long ago that Volkswagen, the world's second largest automaker, had weathered the Dieselgate scandal and jumped ...
VW Wants To Eliminate Bonuses And Cut Wages By 10%
Volkswagen has finally presented their proposal to the IG Metall union, which calls for the elimination of some bonuses as ...
VW Urges Pay Cuts, Working to Avoid Plant Closures
VW faces its biggest crisis in decades as it works to avoid plant closures. But the competition is only starting to mount.