BRIEF-Rivian Co, Volkswagen Group Entered Transaction Agreement To Create New Joint Venture

Reuters11-13 05:08

Nov 12 (Reuters) - Rivian Automotive Inc :

* RIVIAN: CO, VOLKSWAGEN GROUP ENTERED TRANSACTION AGREEMENT TO CREATE NEW JOINT VENTURE – “RIVIAN AND VW GROUP TECHNOLOGY, LLC”

* RIVIAN: VOLKSWAGEN GROUP PLANS TO INVEST UP TO $5.8 BILLION IN CO & JV BY 2027

* RIVIAN: JV TO BE CO-LED BY WASSYM BENSAID AND CARSTEN HELBING

* RIVIAN: JV TO AIM TO USE EXISTING RIVIAN ELECTRICAL ARCHITECTURE & SOFTWARE TECHNOLOGY STACK, ENABLING LAUNCH OF RIVIAN’S R2 IN H1 2026

* RIVIAN: JV WILL OPERATE AS AN INDEPENDENT COMPANY

((Reuters.Briefs@thomsonreuters.com;))

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