VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
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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.
VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
Volkswagen plans to invest up to $7.5 billion in Rivian to get access to the EV startup's software and electrical architecture and work with it on...
German auto giant Volkswagen will invest $5 billion in US electric vehicle maker Rivian and create a joint venture expected to produce technology used...
VW will get access to EV technology and a partner to develop next-gen vehicles and software
The amount Volkswagen said it planned to invest in the electric vehicle maker Rivian.
Shares in the US-based electric truck and SUV maker jumped by almost 50% after the announcement.
Rivian (RIVN) and Volkswagen plan to form a JV to build next-generation electrical architecture and advanced software technology for their future...
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