VW ups investment with Rivian to $5.8B, forms technology joint venture

VW Group and Rivian form technology joint venture focused on electrical architecture and software development.

First Rivian to use jointly developed systems will be R2 due in 2026Volkswagen Group has decided to deepen its ties with U.S. electric vehicle startup Rivian, with the two companies announcing on Tuesday increased investment for their previously announced, with the funding to be supplied by VW Group over a period of years and Rivian in return delivering its expertise in electrical architecture and software development..

Both companies are open to further collaboration down the road in areas such as batteries, whole vehicle platforms, and joint production, but said this will need to be in addition to the announced joint venture deal.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

motorauthority /  🏆 61. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rivian, Spotify, CAVA Group rise premarket; Spirit Airlines slumpsRivian, Spotify, CAVA Group rise premarket; Spirit Airlines slumps
Read more »

Rivian And VW's $5.8B Joint Venture Will Power A Lot, Including 'Subcompact Cars'It's called Rivian and VW Group Technology, LLC.
Read more »

Indie Label Group Founders Sell Remaining Shares To Universal Music GroupThe founders of indie label group have sold their remaining shares to Universal Music Group (UMG), making UMG the majority shareholder. The deal includes the merger of Virgin Music Group and ’s services division, which will provide world-class services to independent music labels.
Read more »

VW and Rivian officially kick off $5.8 billion joint venture, announce leadershipVolkswagen and Rivian announced the official kickoff of their new joint venture, which will develop new electrical architecture and software for future models.
Read more »

Rivian-Volkswagen joint venture up deal to $5.8 billion, VW cars expected as early as 2027The companies said the deal is now up to $5.8 billion – up from $5 billion – with the first VW models to use Rivian’s software and electrical…
Read more »

Rivian, VW venture kicks off next-gen platform for R1, Scout EVsRivian and VW's joint venture will be used to produce Rivian R2s and VW's Scout EVs.
Read more »