Get all your news in one place.
100's of premium titles.
One app.
Start reading
Top News
Top News

Rivian And Volkswagen Group Form Joint Venture For Vehicle Software

VW commits $5 billion to Rivian for vehicle software development.

Rivian and Volkswagen Group have announced a joint venture to develop vehicle software, with VW committing a total of $5 billion to Rivian, including an immediate $1 billion investment. The joint venture will not have a designated name or leadership team yet, but Rivian's CEO mentioned that it will have two co-leaders reporting to each automaker.

VW's investment will aid Rivian in expanding its manufacturing capabilities, potentially leading to a new factory in Georgia. Both companies aim to introduce new vehicles utilizing the joint venture's technologies by 2030.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.