The two companies have formed a joint venture to produce software-defined vehicles together
The Volkswagen Group will invest up $5 billion into US electric start-up Rivian amid the creation of a joint venture between the two companies, which is intended to design the next generation of software-defined vehicles. The investment hands Rivian a financial lifeline to secure its mid-term future amid persistent losses, while Volkswagen gets access to Rivian’s future-positioned electrical architecture to accelerate its often cumbersome software development programme.
The VW-Rivian tie-up will have implications for the development of future models for both companies, particularly Rivian’s recently announced R2 crossover and smaller, European-angled R3 SUV hatchback. The news could also alter the development course of Volkswagen’s revival of the Scout off-road brand as an EV company, which will compete directly with Rivian’s line-up. VW’s investment into Rivian comes after Ford cut its 11.4% stake in Rivian to just above 1% in 2023.
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