The new joint venture — Rivian and Volkswagen Group Technologies — will officially kick off November 13 as an independent company. And, if successful, it could be a boon for both companies.

Rivian received another $1 billion from the Volkswagen Group on June 30, the electric vehicle startup announced on Wednesday.

When the joint venture closes, Volkswagen said they’ll invest roughly $1.3 billion as consideration for additional background IP licenses, as well as a 50% equity stake in the venture.

Volkswagen, the German automaker, and Rivian, a California-based maker of electric pickups and S.U.V.s, said on Tuesday that they would form a joint venture to develop software and electronics ...

Electric vehicle startup Rivian and German automobile giant Volkswagen finalized their joint venture this week, a $5.8 billion deal that could prove transformational for both automakers.

Rivian-Volkswagen joint venture deal rises to up to $5.8 billion, VW cars expected as early as 2027 By Michael Wayland,CNBC • Published November 12, 2024 • Updated on November 12, 2024 at 6:29 pm ...

Volkswagen plans to invest up to $5.8 billion in Rivian and the joint venture by 2027. The initial $1 billion investment, the form of convertible notes, has already been made.

Volkswagen was among the highest-profile global brands to maintain a presence in Xinjiang, with a subsidiary of its Chinese joint venture, SAIC-Volkswagen, operating a production plant in Urumqi ...

The new joint venture — Rivian and Volkswagen Group Technologies — will officially kick off November 13 as an independent company. And, if successful, it could be a boon for both companies.

In terms of the partnership itself, Volkswagen Group said they plan to invest $5.8 billion in Rivian and the joint venture by 2027, with an initial $1 billion already provided in the form of a ...

Volkswagen plans to invest up to $5.8 billion in Rivian and the joint venture by 2027. The initial $1 billion investment, the form of convertible notes, has already been made.

Joint venture promises ‘cutting-edge’ software and scale for electric vehicles Last Updated: Nov. 13, 2024 at 12:42 p.m. ET First Published: Nov. 12, 2024 at 5:45 p.m. ET Share ...