this post was submitted on 26 Jun 2024
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This is the best summary I could come up with:
The joint venture will be co-owned by Rivian and VW Group, which oversees brands like Audi, Porsche, Lamborghini, and its flagship Volkswagen.
The new venture was announced in a post from Rivian CEO RJ Scaringe, who noted the investment will help the company bring its next generation R2 electric vehicle to market starting in 2026.
VW Group CEO Oliver Blume said all of the company’s brands could benefit from the partnership with Rivian, including potential competitor Scout Motors, which is planning to launch a new lineup of electric trucks in the US.
The plan was to use Rivian’s battery pack and electric motor setup in a Ford or Lincoln branded SUV.
Asked whether the deal would make Rivian the exclusive partner to VW and its brands, Scaringe declined to answer directly.
“In the context of the joint venture, we have certainly talked about the ability to work on other products or private programs outside of the Rivian or Volkswagen Group portfolio,” he said.
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