Volkswagen Hands Rivian $5 Billion Lifeline: The Most Important Partnership Since Bugatt-Rimac

06/26/2024 07:04 AM

Rivian and Volkswagen have announced a major partnership that will see the latter invest as much as $5 billion (an initial $1 billion with $4 billion at a later date) in the American EV startup to develop next-generation EV platforms for use in both brands' products. These software-defined vehicle platforms will combine electrical architecture and next-gen software technology, the latter something that Volkswagen has had some strife in developing under its troubled Cariad division. But with Rivian taking the lead and bringing a decade of EV-only development knowledge to the table and Volkswagen's financial might and mass-scale production capabilities, the joint venture (JV) has huge potential.