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Volkswagen Group Invests Billions in Rivian in Joint Venture https://lnkd.in/ggAuXEdM auto connected car newsRivian Automotive (NASDAQ: RIVN) and Volkswagen Group (XETRA: VOW / VOW3) have today announced their intention to form an equally controlled and owned joint venture (JV) to create next-generation electrical architecture and best-in-class software technology. It was announced VW is investing $5 Billion in capital. The partnership is anticipated to accelerate the development of software for Rivian and Volkswagen Group. It is expected to allow both companies to combine their complementary strengths and lower cost per vehicle by increasing scale and speeding up innovation globally. Rivian’s proven in-market zonal hardware design and integrated technology platform are expected to serve as

Volkswagen Group Invests Billions in Rivian in Joint Venture https://lnkd.in/ggAuXEdM auto connected car newsRivian Automotive (NASDAQ: RIVN) and Volkswagen Group (XETRA: VOW / VOW3) have today announced their intention to form an equally controlled and owned joint venture (JV) to create next-generation electrical architecture and best-in-class software technology. It was announced VW is investing $5 Billion in capital. The partnership is anticipated to accelerate the development of software for Rivian and Volkswagen Group. It is expected to allow both companies to combine their complementary strengths and lower cost per vehicle by increasing scale and speeding up innovation globally. Rivian’s proven in-market zonal hardware design and integrated technology platform are expected to serve as

Volkswagen Group is set to invest up to $5 billion in Rivian, forming a joint venture to leverage Rivian's advanced technology for future EVs. This partnership aims to enhance software development, reduce costs, and accelerate innovation. With an initial $1 billion investment and up to $4 billion in additional investments, VW gains access to Rivian's proven hardware design and integrated technology platform. Discover how this collaboration will shape the future of electric vehicles and benefit both companies. Read the full article below ⬇️ #VolkswagenGroup #Rivian #EVs #AutobodyNews

■ Rivian and VW Group Officially Launch JV, Expand Deal Size to $5.8 Billion! Rivian and Volkswagen Group announced Tuesday the next step of its partnership revealed last July. By Cláudio Afonso  ■ Named Rivian and Volkswagen Group Technologies, the joint venture has a total deal size of up to $5.8 billion (up from $5 billion) and kicks off this Wednesday, November 13. ■ Aiming to offer customers “the best technological solution as early as possible,” both companies will allocate developers and software engineers to the joint venture. The offices will be split between 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, according to both carmakers. Rivian’s electrical architecture and software technology stack will be used across several future models of the Volkswagen Group with the first ones expected to be launched in early 2027. Rivian’s chief executive RJ Scaringe said in a statement that the “finalization of our joint venture with Volkswagen Group marks an important step forward in helping transition the world to electric vehicles. We’re thrilled to see our technology being integrated in vehicles outside of Rivian, and we’re excited for the future. Rivian will continue to stay focused on creating best in class products and services that benefit our customers, helping to drive EV adoption.” ■ As of the time of writing, Rivian shares are trading 4.1% higher at $11.02 after having dropped 4% on Tuesday’s session. Last June, 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. The partnership “brings Rivian’s software and zonal electronics platform to a broader market through Volkswagen Group’s global reach and scale”, Rivian‘s CEO 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”. #Rivian #Volkswage #AutoNews #Automotive #MotorIndustry

Rivian Automotive (RIVN) and Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) plan to form an equally controlled and owned joint venture to create next-generation software-defined vehicle or SDV platforms for use in both companies' future electric vehicles. Volkswagen plans to invest $5 billion into Rivian, the companies said in a statement. There have been many challenges with EV startup including product quality issues, cash flow, ramping up production, etc. Partnerships are key as part of developing the next generation hybrid, alternative fuels like H2, EV batteries, etc. https://lnkd.in/gfQ4jbhr   Blog – Analysis and Commentary – Automotive (ICE EV and Hybrid) – April 2024 - https://lnkd.in/gcve9aYp

German Manufacturing Meets Silicon Valley Culture Volkswagen Group has announced plans to invest up to $5 billion in Rivian, a U.S. electric vehicle manufacturer backed by Amazon. This investment will create a new joint venture where both companies will equally share electric vehicle (EV) architecture and software. Initially, Volkswagen will invest $1 billion through a convertible note that will be converted into Rivian stock on December 1, subject to regulatory approvals. The remaining $4 billion will be invested gradually over time. This partnership aims to accelerate Volkswagen's efforts in creating software-defined vehicles (SDVs) by leveraging Rivian's intellectual property. For Rivian, the investment provides essential financial support as the company faces challenges in scaling production and deliveries of its electric pickup and SUV models. Following the announcement, Rivian's shares surged by up to 37% in after-hours trading. Both companies plan to introduce vehicles featuring technology developed through the joint venture in the latter half of the decade.

VW and Rivian: Why large companies partner with startups In the face of rapid technological change, large companies are increasingly partnering with startups to stay agile and access new talent. These partnerships allow established firms to integrate cutting-edge technologies and innovative approaches more quickly and efficiently than their larger structure allow. The Volkswagen (VW) and Rivian partnership is a prime example. VW's investment in the electric vehicle startup Rivian is not just financial; it's a strategic move to infuse Rivian's agility and expertise into VW's operations. This collaboration is set to accelerate VW's electric mobility initiatives and shorten the development cycle for new models. Such alliances demonstrate the mutual benefits for both parties: startups gain financial stability and industry experience, while large companies tap into a pool of specialized talent and entrepreneurial culture. This symbiotic relationship is shaping the future of business, driving innovation, and fostering progress in an ever-evolving market landscape.

Volkswagen to invest up to $5 billion in EV maker Rivian as part of tech joint venture 1️⃣ The investment will provide Rivian - known for its flagship #R1S SUVs and #R1T pickups - the #funding it needs to develop its less-expensive and smaller #R2 SUVs that are set to roll out in 2026, CEO RJ Scaringe told Reuters. 2️⃣ Volkswagen will initially invest $1 billion in Rivian and a further $4 billion in #investments later, the companies said. 3️⃣ The #partnership will help Volkswagen accelerate its plans to develop software-defined vehicles (#SDV), with Rivian licensing its existing intellectual property rights to the #joint_venture. https://lnkd.in/dhx88RZP

[Daily Focus News] Transportation "#Volkswagen Group said Tuesday it will invest $1 billion into EV startup Rivian as part of a broad software development deal that could expand to as much as $5 billion. It’s a boon for #Rivian, which has a tenuous path ahead as it pushes to develop its mass-market R2 SUV. The company’s shares shot up more than 36% in after-hours trading. But it also gives Volkswagen another option for advancing its own software chops — something it has struggled mightily with during this mass transition to electric vehicles. As part of the deal, the two companies will create a joint venture to develop and grow the technology. It will be a 50-50 partnership with co-CEOs, who will report into both Rivian and Volkswagen Group. Rivian will share its electrical architecture expertise with VW and is expected to license existing intellectual property rights to the joint venture." #volkswagen #invest #rivian #ev #startup #software #deal #transportation #kotra #kotrasvitc

Volkswagen will invest up to $5bn in Rivian. This investment and joint venture is a reflection of the challenges of both startups and corporations with the speed and scale needed in the energy transition and climate tech scaling. Corporates - Corporations have good intentions to change, and move fast. However, they struggle to do so at the speed and pace needed. Their processes are long, cumbersome and limited. This dea will help Volkswagen accelerate its plans to develop software-defined vehicles (SDV) as they compete with the software-led car Tesla - Rivian will license its software and IP. Startups and Scale-up - building a car venture is extremely challenging in terms of how capital, asset and operations heavy it is. Moving fast has tradeoffs in terms of the capital spent, speed of scale especially with supply chains and markets as they are today. This investment will provide the funding for Rivian to develop its smaller R2 SUVs that will roll out in 2026. RJ Scaringe #electricvehicles #ev #climate #energytransition #investments #corporateinnovation #climate #mobility https://lnkd.in/eBfauP3G