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November 15, 2024
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VW and Rivian team up for more EVs
Volkswagen AG and Rivian have shared some details regarding their partnership deal struck this summer.
The German automobile company will be raising its investment into the U.S. startup from the initial $5 billion to $5.8 billion. Furthermore, while the original agreement envisioned smaller things like co-developing software and select EV parts, its revised version now says the companies will focus their efforts on designing a superior EV platform.
This new electric car architecture will be largely based on Rivian’s existing know-how, Volkswagen admits. The first cars from this union are expected to reach production in 2027.
Editor: Andrew Raspopov
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November 19, 2024
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