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