Rivian Automotive (RIVN) and Volkswagen Group (VWAGY) Announce JV Plans
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Rivian and Volkswagen Group Announce Plans for Joint Venture to Create Industry-Leading Vehicle Software Technology and for Strategic Investment by Volkswagen
June 25, 2024 4:19 PM EDTRivian 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 Rivians industry-leading software and electrical architecture to create best-in-class software-defined vehicle technology platform
IRVINE, Calif. & WOLFSBURG, Germany--(BUSINESS WIRE)-- Rivian Automotive (NASDAQ: RIVN) and Volkswagen... More
