Written by Cláudio Afonso | LinkedIn | X
Only two months after Volkswagen officially set the joint venture with the U.S. EV maker Rivian on software and technology, the German car giant is already looking into expanding it to new areas.
Named ‘Rivian and Volkswagen Group Technologies’, the joint venture was initially announced in July 2024 and kicked off a few months later, in November.
After a failed investment in Cariad, the Volkswagen group will use Rivian‘s software and technology while the California-based EV startup continues to prepare for the launch of its R2 and R3 models.
Rivian’s electrical architecture and software technology stack will be used across several future models of the German carmaker with the first ones expected to be launched in early 2027.
Speaking to the German media outlet Speigel, VW Group’s CEO Oliver Blume stated, “For example, we are thinking about sharing modules and bundling purchasing volumes.”
“The Volkswagen group offers great opportunities for a small brand like Rivian,” Blume added on Friday.
Both companies announced in November last year that the joint venture had a total deal size of up to $5.8 billion — up from the $5 billion reported in July.
VW aims to offer customers “the best technological solution as early as possible” and has recently established offices in four locations in America and Europe, starting with Palo Alto, California.
Upon closing of the joint venture, Volkswagen Group will invest “about $1.3 billion” in exchange for background IP licenses and a 50% equity stake in the venture.
As of the time of writing, Rivian shares are trading 3.3% higher at $14.44 during Friday’s pre-market session.
Written by Cláudio Afonso | LinkedIn | X
