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.
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.