submitted 4 days ago* (last edited 4 days ago) by 0x815@feddit.org to c/europe@feddit.org

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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.

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[-] _sideffect@lemmy.world 1 points 4 days ago

I should not have invested in Nio years ago 😂

[-] Blaster_M@lemmy.world 1 points 4 days ago

Hopefully this saves Rivian... they're a decent company

[-] federalreverse@feddit.org 2 points 4 days ago

Do they need saving? I thought they had Amazon's money as backing.

(Also I wonder — how will this news impact VW's new Scout brand.)

[-] Addv4@lemmy.world -1 points 4 days ago

Yeah, but even then they are loosing money on every van they make for them. It's mostly R&D, but still.

[-] Servais@dormi.zone 1 points 4 days ago

Thank you for posting here!

this post was submitted on 26 Jun 2024

17 points (100.0% liked)

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