Rivian and Volkswagen Finalize Joint Venture Worth Up to $5.8B
Thursday, November 14th, 2024
Electric vehicle startup Rivian and German automobile giant Volkswagen finalized their joint venture Tuesday, a $5.8 billion deal that could prove transformational for both automakers.
They are partnering to develop software for their next-generation EVs through a separate entity helmed by top Rivian and VW officials. Called “Rivian and VW Group Technology LLC,” the joint venture provides Volkswagen access to Rivian’s technology platform while juicing the startup’s balance sheet as it aims to make the jump to being a profitable company.
Read More at The Atlanta Journal Constitution.
