The two companies will jointly develop new software-based vehicle platforms that'll underpin future cars from both brands.
Volkswagen has announced it will invest up to $5 billion in Rivian, the electric automaker that builds the R1S SUV and R1T pickup truck.The two automakers will create a joint venture focused on the development of a new electrical architecture and vehicle software for future models.The partnership will help Volkswagen move closer to developing software-defined vehicles and give Rivian a much-needed influx of cash.
The approval of the joint venture would also give VW immediate access to Rivian's current electronic architecture for use in its own vehicles. According to Rivian, significant work has been done over the past several months to confirm compatibility between Rivian's architecture and Volkswagen's vehicles. Cash InfluxDespite earning high praise for its current lineup from industry reviewers , Rivian has struggled to ramp up production and turn a profit from its sales.
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Volkswagen Investing Up To $5 Billion In Rivian As The Carmakers Plan Software VentureAlan Ohnsman is a Forbes senior editor who covers cleantech and advanced transportation. He joined Forbes in 2016 and works in Los Angeles. He co-authors the Current Climate newsletter, writes about promising clean energy developments and has covered Tesla since 2006, when he was with Bloomberg News. He has a graduate degree in journalism and a B.
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Volkswagen Is Investing Up To $5 Billion In RivianAlan Ohnsman is a Forbes senior editor who covers cleantech and advanced transportation. He joined Forbes in 2016 and works in Los Angeles. He co-authors the Current Climate newsletter, writes about promising clean energy developments and has covered Tesla since 2006, when he was with Bloomberg News. He has a graduate degree in journalism and a B.
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Volkswagen Is Investing Up To $5 Billion In RivianAlan Ohnsman is a Forbes senior editor who covers cleantech and advanced transportation. He joined Forbes in 2016 and works in Los Angeles. He co-authors the Current Climate newsletter, writes about promising clean energy developments and has covered Tesla since 2006, when he was with Bloomberg News. He has a graduate degree in journalism and a B.
Read more »
Volkswagen Investing Up To $5 Billion In Rivian As The Carmakers Plan Software VentureAlan Ohnsman is a Forbes senior editor who covers cleantech and advanced transportation. He joined Forbes in 2016 and works in Los Angeles. He co-authors the Current Climate newsletter, writes about promising clean energy developments and has covered Tesla since 2006, when he was with Bloomberg News. He has a graduate degree in journalism and a B.
Read more »
Volkswagen stock slips on cost, implications of Rivian JV; Rivian soarsVolkswagen stock slips on cost, implications of Rivian JV; Rivian soars
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Volkswagen investing $5M in Illinois-based electric car company Rivian to design vehicle softwareRivian and Volkswagen Group are forming a joint venture to create vehicle software, the two companies announced Tuesday.
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