Written by Cláudio Afonso | LinkedIn | X
On Tuesday, the German media outlet Handelsblatt reported that Rivian and Volkswagen were in discussions to extend their recently announced software partnership into hardware collaboration and joint production.
However, when contacted by Reuters, the US-based electric vehicle (EV) maker Rivian stated that it has no plans to produce vehicles with Volkswagen Group.
Last week, Volkswagen Group said it was set to invest up to $5 billion in the US-based electric vehicle maker Rivian to leverage its technology and form a joint venture.
A Rivian spokesperson reiterated that the company aims to produce the R2 at its manufacturing facility in Normal, Illinois, followed by production at a planned Georgia plant.
“There are no plans for production of vehicles with Volkswagen Group,” the Rivian spokesperson told Reuters.
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The partnership announced last week “brings Rivian’s software and zonal electronics platform to a broader market through Volkswagen Group’s global reach and scale”, RJ Scaringe wrote on X.
In a statement, the German group said that, in case the joint venture would be established successfully, Volkswagen “intends to make further investments in shares of Rivian Automotive, Inc., or in the joint venture in the total amount of 4 billion USD”.
“The additional investment in shares of Rivian Automotive, Inc., would be made in two tranches of 1 billion USD each in 2025 and 2026 and would be contingent on Rivian Automotive, Inc., and the joint venture achieving certain milestones. With respect to the joint venture Volkswagen would provide a payment in the amount of 1 billion USD upon foundation of the joint venture in 2024 and grant a loan in the amount of 1 billion USD in 2026,” VW added.
Written by Cláudio Afonso | LinkedIn | X
