From Torque News.

BREAKING: VW is taking a $1B stake in Rivian, and will invest another $4B to form a joint venture. I think this is a good move for both Rivian and VW. It helps Rivian survive, and it helps VW with software (the software in their EVs has been terrible).

Having said that, VW should have been able to figure out this stuff in house with the amount of resources they have.

#Rivian #volkswagen

This is Armen Hareyan from Torque News. Please follow us at https://twitter.com/torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news.

Reference
Electrek https://electrek.co/2024/06/25/vw-will-invest-up-to-5b-into-rivian-to-form-joint-venture-for-next-gen-evs/