this post was submitted on 26 Jun 2024
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67
German carmaker Volkswagen to invest up to $5bn in US-based electric vehicle company Rivian to share technology (rivian.com)
submitted 4 days ago by [email protected] to c/technology
4 comments fedilink hide all child comments
 

cross-posted from: https://feddit.org/post/181995

  • Rivian 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 Rivian’s industry-leading software and electrical architecture to create best-in-class software-defined vehicle technology platform.
  • The tie-up comes as competition intensifies between EV makers and Western countries move to impose tariffs on Chinese imports.
top 4 comments
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[–] [email protected] 2 points 2 days ago

Rivian's delivery vans are top tier, I can definitely see VW wanting to create their our van based on Rivian's

[–] CoffeeJunkie -2 points 2 days ago

Rivian is an expensive failure. 😂 They're going to steal VW 's money, whatever is invested, and they're going to spend it all before VW can get it back. So...they're going to lose at least $1B.

[–] [email protected] 0 points 2 days ago* (last edited 2 days ago)

Whatever it takes to force expensive, unsustainable EVs on the imperial core.

[–] [email protected] 1 points 4 days ago

Neat