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.
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.
Volkswagen launches joint venture with US electric car company Rivian
German auto giant Volkswagen has officially launched a joint venture with US electric vehicle manufacturer Rivian, committing to a €5.8 billion ($6.2 billion) investment, €800 million more than previously planned,
VW and Rivian officially kick off $5.8 billion joint venture, announce leadership
Last June, VW said it would invest $5 billion in Rivian as part of a new joint venture that’s focused on developing a new electrical architecture and vehicle software for future models, including subcompact cars, with the first planned for 2027. The investment size has now increased to $5.8 billion.
Rivian stock soars as joint venture with Volkswagen is upsized to $5.8 billion
Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create “cutting edge” EV technology.
Volkswagen to Invest $5.8 Billion in EV Startup Rivian Through Joint Venture
The joint venture targets Rivian’s existing electrical architecture and software technology stack, enabling the launch of Rivian’s R2 model in the first half of 2026, the companies said.
Volkswagen and Rivian Form Joint Venture, Deepening Alliance
The new agreement, which builds on an earlier announcement, calls for the German automaker to invest $5.8 billion in Rivian, a maker of electric vehicles.
Rivian, Volkswagen Group launch $5.8 billion joint venture
Rivian and Volkswagen Group launched on Tuesday the joint venture they had announced in June, valued at $5.8 billion, to share software and electric vehicle architecture. The joint venture aims to integrate advanced electrical infrastructure and Rivian's software technology for future electric vehicles of both companies,
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 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.
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