Volkswagen increases investment in Rivian to $5.8 billion for joint venture

Volkswagen Group has raised its investment in electric vehicle startup Rivian by 16% to $5.8 billion. The two companies have announced the launch of their joint venture to develop electric vehicle architecture and software. The joint venture aims to integrate advanced electrical infrastructure and Rivian's software technology for future EVs of both companies. Volkswagen plans to invest the $5.8 billion in Rivian and the joint venture by 2027. The joint venture will use Rivian's existing technology to launch Rivian's R2 model in the first half of 2026 and potentially debut Volkswagen Group models as early as 2027.

Latest News

2024-11-14

Rivian to Boost Operations Through Volkswagen Joint Venture -- Market Talk

2024-11-14

Rivian's stock soars as joint venture with Volkswagen is upsized to $5.8 billion

2024-11-13

Rivian's Upsized JV Deal With Volkswagen Bodes Well For US EV Maker, Analysts Say

User Discussion

Cosmograph

2024-11-14

Is rivian profitable? No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...

Rivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion

{"i18n":{"language":"en_US"},"financialEventData":{"themeId":"48d03f644c030329046f5307c5d75b33","name":"Volkswagen increases investment in Rivian to $5.8 billion for joint venture","description":"Volkswagen Group has raised its investment in electric vehicle startup Rivian by 16% to $5.8 billion. The two companies have announced the launch of their joint venture to develop electric vehicle architecture and software. The joint venture aims to integrate advanced electrical infrastructure and Rivian's software technology for future EVs of both companies. Volkswagen plans to invest the $5.8 billion in Rivian and the joint venture by 2027. The joint venture will use Rivian's existing technology to launch Rivian's R2 model in the first half of 2026 and potentially debut Volkswagen Group models as early as 2027.","image":"https://community-static.tradeup.com/news/1201dcc0482be040348fb8d4f228bb68","type":2,"style":4,"follow":false,"createTime":1731450318465,"userCounts":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/special/finance&rndata={\"themeId\":48d03f644c030329046f5307c5d75b33}&rnconfig={\"headerBarHidden\": true}","subscribe":false,"allowFollow":false,"hasReward":false,"rewardScore":0,"rewardValidDate":0,"rewardEnd":false,"symbols":["RIVN"],"tweetCounts":1,"categoryId":"2929bb7468f5415f853fd96fb35d7c3b","options":[],"votedOptionId":"","totalUserCount":0,"followStatus":false,"themeName":"Volkswagen increases investment in Rivian to $5.8 billion for joint venture","tweetAmount":1,"imageIsDefault":true},"news":[{"id":88209,"article_id":"2483498837","title":"Rivian to Boost Operations Through Volkswagen Joint Venture -- Market Talk","subtitle":"","subtitle_show":0,"pub_time":1731520320000,"source_id":"dowjones_highlight","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":0,"symbols_score_info":{"JYNT":1,"RIVN":1},"rights":null},{"id":88208,"article_id":"2483383789","title":"Rivian's stock soars as joint venture with Volkswagen is upsized to $5.8 billion","subtitle":"","subtitle_show":0,"pub_time":1731519720000,"source_id":"dowjones_highlight","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":0,"symbols_score_info":{"RIVN":1,"VWAPY":0.9},"rights":null},{"id":88182,"article_id":"2483523835","title":"Rivian's Upsized JV Deal With Volkswagen Bodes Well For US EV Maker, Analysts Say","subtitle":"","subtitle_show":0,"pub_time":1731513183000,"source_id":"yahoofinance","language":"en","url":"https://finance.yahoo.com/news/rivian-apos-upsized-jv-deal-155303721.html","is_publish_highlight":0,"symbols_score_info":{"RIVN":1},"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/rivian-apos-upsized-jv-deal-155303721.html","rn_cache_url":"https://www.laohu8.com/rn/news?id=2483523835","customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true}},{"id":88170,"article_id":"2483037838","title":"Rivian Soars Over 17% On Volkswagen's Team Up: A $5.8B EV Power Move","subtitle":"","subtitle_show":0,"pub_time":1731512262000,"source_id":"yahoofinance","language":"en","url":"https://finance.yahoo.com/news/rivian-soars-over-17-volkswagens-153742503.html","is_publish_highlight":0,"symbols_score_info":{"VWAGY":1,"TISI":1,"RIVN":1,"PW":1,"TSLA":0.75},"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/rivian-soars-over-17-volkswagens-153742503.html","rn_cache_url":"https://www.laohu8.com/rn/news?id=2483037838","customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true}},{"id":87866,"article_id":"2483918050","title":"Rivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion","subtitle":"","subtitle_show":0,"pub_time":1731509719800,"source_id":"","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":1,"symbols_score_info":{"RIVN":1},"rights":null},{"id":88060,"article_id":"2483177889","title":"Rivian Shares Jump 11% After Volkswagen Raises Investment in Co to $5.8 Billion","subtitle":"","subtitle_show":0,"pub_time":1731508290000,"source_id":"reuters_en_live","language":"en","url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241113:nL4N3MK1H5:1","is_publish_highlight":0,"symbols_score_info":{"RIVN":0.9},"rights":null},{"id":87912,"article_id":"2483003059","title":"大众汽车向合资公司投资 58 亿美元，Rivian 股价大涨","subtitle":"","subtitle_show":0,"pub_time":1731498807000,"source_id":"Reuters_global","language":"zh","url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_publish_highlight":0,"symbols_score_info":{"RIVN":1,"VLKAY":1},"rights":null},{"id":87903,"article_id":"2483072562","title":"Deeper dive: Why Rivian and Volkswagen are going at it together","subtitle":"","subtitle_show":0,"pub_time":1731494453000,"source_id":"seekingalpha_trending_news","language":"en","url":"https://seekingalpha.com/news/4283728-deeper-dive-why-rivian-and-volkswagen-are-going-at-it-together","is_publish_highlight":0,"symbols_score_info":{"RIVN":1,"VLKAF":0.9,"VWAGY":0.9,"VWAPY":0.9},"rights":null},{"id":87886,"article_id":"2483862079","title":"BUZZ-Rivian jumps after Volkswagen raises investment to $5.8 bln","subtitle":"","subtitle_show":0,"pub_time":1731492027000,"source_id":"reuters_news_en","language":"en","url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241113:nL4N3MK0U5:1","is_publish_highlight":0,"symbols_score_info":{"RIVN":0.9},"rights":null},{"id":87877,"article_id":"2483777075","title":"Rivian Stock Rallies as Volkswagen Joint Venture Is Upsized to $5.8 Billion -- WSJ","subtitle":"","subtitle_show":0,"pub_time":1731491160000,"source_id":"dowjones_highlight","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":0,"symbols_score_info":{"JYNT":1,"VWAPY":0.9},"rights":null},{"id":87876,"article_id":"2483075446","title":"Rivian Shares Rise 13.2% Premarket After Volkswagen Raises Investment in Co to $5.8 Billion","subtitle":"","subtitle_show":0,"pub_time":1731490885000,"source_id":"reuters_en_live","language":"en","url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241113:nL4N3MK0TE:1","is_publish_highlight":0,"symbols_score_info":{"RIVN":0.9},"rights":null},{"id":87859,"article_id":"1195581068","title":"Rivian盘前大涨超11%，大众汽车追加8亿美元投资","subtitle":"","subtitle_show":0,"pub_time":1731488549820,"source_id":"","language":"zh","url":"","is_publish_highlight":1,"symbols_score_info":{"RIVN":1.1},"rights":null},{"id":87784,"article_id":"2483127950","title":"Inside VW and Rivian's Big Bet to Rescue Each Other -- WSJ","subtitle":"","subtitle_show":0,"pub_time":1731470400000,"source_id":"dowjones_highlight","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":0,"symbols_score_info":{"RIVN":1,"VWAPY":0.9},"rights":null},{"id":87724,"article_id":"2483991830","title":"Rivian Jumps On Expanded Volkswagen Joint Venture; VW EVs As Early As 2027","subtitle":"","subtitle_show":0,"pub_time":1731459126000,"source_id":"investor_business_daily_highlight","language":"en","url":"https://www.investors.com/news/rivian-jumps-volkswagen-joint-venture-vw-evs-2027/","is_publish_highlight":0,"symbols_score_info":{"JYNT":1,"RIVN":1,"VWAGY":1,"XPEV":1,"EVS.SI":0.6},"rights":null},{"id":87710,"article_id":"2483065603","title":"Volkswagen Boosts Bet on Rivian’s EV Tech by $800 Million","subtitle":"","subtitle_show":0,"pub_time":1731456643400,"source_id":"lsy1584095487587","language":"en","url":"https://www.bloomberg.com/news/articles/2024-11-12/volkswagen-boosts-bet-on-rivian-s-ev-technology-by-800-million","is_publish_highlight":1,"symbols_score_info":{"RIVN":1},"rights":null},{"id":87718,"article_id":"2483067070","title":"Rivian盘后涨近9%，大众再加码8亿美元，推进与其合作计划","subtitle":"","subtitle_show":0,"pub_time":1731455999300,"source_id":"stock_zhitongcaijing","language":"zh","url":"http://www.zhitongcaijing.com/content/detail/1210157.html","is_publish_highlight":1,"symbols_score_info":{"RIVN":1},"rights":null},{"id":87688,"article_id":"2483064923","title":"Rivian, Volkswagen joint venture is upsized to $5.8 billion","subtitle":"","subtitle_show":0,"pub_time":1731453120000,"source_id":"dowjones_highlight","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":0,"symbols_score_info":{"RIVN":1},"rights":null},{"id":87684,"article_id":"2483706124","title":"Rivian (NASDAQ:RIVN) Receives a $5.8B Investment from Volkswagen","subtitle":"","subtitle_show":0,"pub_time":1731452375000,"source_id":"tipranks_highlight","language":"en","url":"https://www.tipranks.com/news/rivian-receives-a-5-8b-investment-from-volkswagen?utm_source=itigerup.com&utm_medium=referral","is_publish_highlight":0,"symbols_score_info":{"RIVN":1,"NDAQ":1,"NQmain":1,".IXIC":1,"TQQQ":0.6,"SQQQ":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"MNQmain":0.6},"rights":null},{"id":87671,"article_id":"2483065565","title":"Volkswagen to Invest $5.8 Billion in EV Startup Rivian Through Joint Venture","subtitle":"","subtitle_show":0,"pub_time":1731448740000,"source_id":"dowjones_highlight","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":0,"symbols_score_info":{"JYNT":1,"RIVN":1,"VWAPY":0.9},"rights":null},{"id":87672,"article_id":"2483063666","title":"Rivian Automotive and Volkswagen finalize their major EV partnership","subtitle":"","subtitle_show":0,"pub_time":1731447941000,"source_id":"seekingalpha_trending_news","language":"en","url":"https://seekingalpha.com/news/4282323-rivian-automotive-and-volkswagen-finalize-their-major-ev-partnership","is_publish_highlight":0,"symbols_score_info":{"RIVN":1,"VWAGY":0.9,"VLKAF":0.9,".IXIC":0.68,"NQmain":0.6,"TQQQ":0.6,"SQQQ":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"MNQmain":0.6},"rights":null},{"id":87673,"article_id":"2483050801","title":"Rivian Stock Jumps. The EV Maker Is Getting More Cash From Volkswagen. -- Barrons.com","subtitle":"","subtitle_show":0,"pub_time":1731446760000,"source_id":"dowjones_highlight","language":"en","url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":0,"symbols_score_info":{"MKR.USD.CC":1,"MKR.USD.HKCC":1,"RIVN":1,"VWAPY":0.9,"ROOT":0.65},"rights":null},{"id":87680,"article_id":"2483052783","title":"Rivian, Volkswagen Group launch $5.8 billion joint venture","subtitle":"","subtitle_show":0,"pub_time":1731446004000,"source_id":"Reuters_global","language":"en","url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_publish_highlight":0,"symbols_score_info":{"RIVN":1},"rights":null},{"id":87674,"article_id":"2483052932","title":"Rivian: Volkswagen Group Plans to Invest up to $5.8 Bln in Co & Jv by 2027","subtitle":"","subtitle_show":0,"pub_time":1731445706379,"source_id":"reuters_en_live","language":"en","url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241112:nP8N3LN0M9:2","is_publish_highlight":0,"symbols_score_info":{"RIVN":0.9},"rights":null},{"id":87676,"article_id":"2483005293","title":"Rivian: Co, Volkswagen Group Entered Transaction Agreement to Create New Joint Venture – “Rivian and Vw Group Technology, Llc”","subtitle":"","subtitle_show":0,"pub_time":1731445706379,"source_id":"reuters_en_live","language":"en","url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241112:nP8N3LN0M9:1","is_publish_highlight":0,"symbols_score_info":{"RIVN":0.9},"rights":null},{"id":87677,"article_id":"2483052965","title":"Rivian: Jv to Aim to Use Existing Rivian Electrical Architecture & Software Technology Stack, Enabling Launch of Rivian’s R2 in H1 2026","subtitle":"","subtitle_show":0,"pub_time":1731445706379,"source_id":"reuters_en_live","language":"en","url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241112:nP8N3LN0M9:4","is_publish_highlight":0,"symbols_score_info":{"RIVN":0.9},"rights":null},{"id":87679,"article_id":"2483068091","title":"Faster, Leaner, More Efficient: Rivian and Volkswagen Group Announce the Launch of their Joint Venture","subtitle":"","subtitle_show":0,"pub_time":1731445680000,"source_id":"yahoofinance","language":"en","url":"https://finance.yahoo.com/news/faster-leaner-more-efficient-rivian-210800817.html","is_publish_highlight":0,"symbols_score_info":{"JYNT":1,"RIVN":1},"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/faster-leaner-more-efficient-rivian-210800817.html","rn_cache_url":"https://www.laohu8.com/rn/news?id=2483068091","customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true}}],"views":[],"tweetList":[{"id":370782593454160,"gmtCreate":1731541264881,"gmtModify":1731541269348,"author":{"id":"3561688895444322","authorId":"3561688895444322","name":"Cosmograph","avatar":"https://community-static.tradeup.com/news/5da27652e118329a7cb4c9cea910b77a","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561688895444322","authorIdStr":"3561688895444322"},"themes":[],"htmlText":"Is rivian profitable? No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...","listText":"Is rivian profitable? No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...","text":"Is rivian profitable? No. lifeline given and still can't sell enough cars. Ok milking VW for the cash... Yeah buy at own risk if this survives...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370782593454160","repostId":"2483918050","repostType":4,"repost":{"id":"2483918050","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1731509719,"share":"https://ttm.financial/m/news/2483918050?lang=&edition=fundamental","pubTime":"2024-11-13 22:55","market":"other","language":"en","title":"Rivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2483918050","media":"Dow Jones","summary":"Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create \"cutting edge\" EV technology. $Rivian Automotive, Inc.(RIVN)$  and the German-bas","content":"<html><head></head><body><p>Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create &#34;cutting edge&#34; EV technology.</p><p>Shares of Rivian rose 20% in Wednesday trading. Rivian reported mixed third-quarter earnings last week.</p><p></p><p><img src=\"https://community-static.tradeup.com/news/b88ed2aef70fd109eea02be0e6c31b55\" alt=\"\"/></p><p><a href=\"https://laohu8.com/S/RIVN\">Rivian Automotive, Inc.</a> and the German-based car maker Volkswagen said that the deal totals $5.8 billion, which is more than when the makers first announced it back in June. The JV starts operations on Wednesday.</p><p>The JV &#34;combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric-vehicle platforms and architectures,&#34; the companies said. &#34;The goal is to be able to offer customers the best technological solution as early as possible.&#34;</p><p>The JV will be co-led by Wassym Bensaid, Rivian&#39;s chief software officer, and Carsten Helbing, Volkswagen Group&#39;s chief technical engineer.</p><p>&#34;We&#39;re thrilled to see our technology being integrated in vehicles outside Rivian - this is an important enabler to help accelerate EV adoption,&#34; Rivian Chief Executive RJ Scaringe said in a statement.</p><p>&#34;The partnership with Rivian is the next logical step in strengthening our global competitive and technological position,&#34; VW&#39;s CEO Oliver Blume said.</p><p>The companies first announced the JV, then expected at up to $4 billion, and a $1 billion investment from Volkswagen in June.</p><p>Volkswagen Group 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.</p><p>The JV&#39;s goal is to use Rivian&#39;s existing EV architecture and software technology stack to launch Rivian&#39;s next-generation EV in the first half of 2026 and support an expected launch of the first models from the Volkswagen as early as 2027, the companies said.</p><p>In just 12 weeks, the joint team developed an drivable demo EV, highlighting integration capabilities of both companies, they said.</p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRivian Stock Soars as Joint Venture with Volkswagen Is Upsized to $5.8 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-13 22:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create &#34;cutting edge&#34; EV technology.</p><p>Shares of Rivian rose 20% in Wednesday trading. Rivian reported mixed third-quarter earnings last week.</p><p></p><p><img src=\"https://community-static.tradeup.com/news/b88ed2aef70fd109eea02be0e6c31b55\" alt=\"\"/></p><p><a href=\"https://laohu8.com/S/RIVN\">Rivian Automotive, Inc.</a> and the German-based car maker Volkswagen said that the deal totals $5.8 billion, which is more than when the makers first announced it back in June. The JV starts operations on Wednesday.</p><p>The JV &#34;combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric-vehicle platforms and architectures,&#34; the companies said. &#34;The goal is to be able to offer customers the best technological solution as early as possible.&#34;</p><p>The JV will be co-led by Wassym Bensaid, Rivian&#39;s chief software officer, and Carsten Helbing, Volkswagen Group&#39;s chief technical engineer.</p><p>&#34;We&#39;re thrilled to see our technology being integrated in vehicles outside Rivian - this is an important enabler to help accelerate EV adoption,&#34; Rivian Chief Executive RJ Scaringe said in a statement.</p><p>&#34;The partnership with Rivian is the next logical step in strengthening our global competitive and technological position,&#34; VW&#39;s CEO Oliver Blume said.</p><p>The companies first announced the JV, then expected at up to $4 billion, and a $1 billion investment from Volkswagen in June.</p><p>Volkswagen Group 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.</p><p>The JV&#39;s goal is to use Rivian&#39;s existing EV architecture and software technology stack to launch Rivian&#39;s next-generation EV in the first half of 2026 and support an expected launch of the first models from the Volkswagen as early as 2027, the companies said.</p><p>In just 12 weeks, the joint team developed an drivable demo EV, highlighting integration capabilities of both companies, they said.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4547":"WSB热门概念","BK4585":"ETF&股票定投概念","RIVN":"Rivian Automotive, Inc.","BK4596":"哈里斯概念","BK4555":"新能源车","BK4588":"碎股","BK4099":"汽车制造商"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2483918050","content_text":"Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create \"cutting edge\" EV technology.Shares of Rivian rose 20% in Wednesday trading. Rivian reported mixed third-quarter earnings last week.Rivian Automotive, Inc. and the German-based car maker Volkswagen said that the deal totals $5.8 billion, which is more than when the makers first announced it back in June. The JV starts operations on Wednesday.The JV \"combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric-vehicle platforms and architectures,\" the companies said. \"The goal is to be able to offer customers the best technological solution as early as possible.\"The JV will be co-led by Wassym Bensaid, Rivian's chief software officer, and Carsten Helbing, Volkswagen Group's chief technical engineer.\"We're thrilled to see our technology being integrated in vehicles outside Rivian - this is an important enabler to help accelerate EV adoption,\" Rivian Chief Executive RJ Scaringe said in a statement.\"The partnership with Rivian is the next logical step in strengthening our global competitive and technological position,\" VW's CEO Oliver Blume said.The companies first announced the JV, then expected at up to $4 billion, and a $1 billion investment from Volkswagen in June.Volkswagen Group 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.The JV's goal is to use Rivian's existing EV architecture and software technology stack to launch Rivian's next-generation EV in the first half of 2026 and support an expected launch of the first models from the Volkswagen as early as 2027, the companies said.In just 12 weeks, the joint team developed an drivable demo EV, highlighting integration capabilities of both companies, they said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}]}