Rivian and VW join up to design vehicle software ...Middle East

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By Peter Valdes-Dapena, CNN (CNN) — Rivian and Volkswagen Group are forming a joint venture to create vehicle software, the two companies announced Tuesday. VW will invest a total of $5 billion into struggling electric vehicle maker Rivian as part of the arrangement, including a $1 billion immediate investment. The two automakers did not provide a name for the new joint venture company or name its leadership team. Rivian CEO RJ Scaringe said during a conference call that it would have two co-leaders, each reporting to one of the automakers. “The way the joint venture has been configured as it’s a 50/50 joint venture that’s designed with two co-CEOs that report effectively in to both

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Last updated : 26 June 2024 clock 01:45 AM

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Rivian and VW join up to design vehicle software ...Middle East

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