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Maroc Maroc - NEWMOBILITY.NEWS - A La Une - 27/Jun 08:27

VW throws US electric pickup maker Rivian $5 billion lifeline

Europe’s biggest carmaker, Volkswagen, pumps one billion dollars into American electric van and pickup specialist Rivian and promises another $4 billion in the coming years. For loss-making Rivian, losing up to $39,000 per car it produced, it’s a lifeline. For VW, it is a way to integrate Rivian’s software and next-generation electrical/electronic architecture for further joint development. Rivian lost 1.45 billion dollars in the first quarter of this year. Continue reading at newmobility.news.

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