
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.