Rivian Automotive (RIVN) and Volkswagen Group (VWAGY) Launch their JV

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Go back to Rivian Automotive (RIVN) and Volkswagen Group (VWAGY) Launch their JV

Faster, Leaner, More Efficient: Rivian and Volkswagen Group Announce the Launch of their Joint Venture

November 12, 2024 4:08 PM EST

New joint venture (JV) with a total deal size of up to $5.8 billion combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric vehicle platforms and architectures. Engineers join the JV to create electric architecture and software for next generation Software Defined Vehicles (SDV). JV to be co-led by Wassym Bensaid (Rivian) and Carsten Helbing (Volkswagen Group). Oliver Blume, CEO Volkswagen Group: The partnership with Rivian is the next logical step in strengthening our global competitive and technological position. Rivian CEO RJ Scaringe: Were... More