Volkswagen to Invest $5 Billion in EV

German auto giant Volkswagen will invest $5 billion in U.S. electric vehicle maker Rivian and create a joint venture expected to produce technology used by both automakers, the companies announced Tuesday.
The collaboration includes a direct $3 billion investment by the German company in Rivian as well as $2 billion to establish an equally controlled and owned joint venture "to create next-generation electrical architecture and best-in-class software technology.
This Initiative a game changer and underssco commitment of car making industries to accelerating the adoption of renewable energy solutions in the automotive industry
﻿
VW to Invest $5 Billion in EV Maker Rivian, Establishing Joint Venture
The venture will allow VW to employ Rivian's existing electrical architecture and software plan, accelerating the German company's efforts on software-defined vehicles.
https://www.industryweek.com/leadership/companies-executives/news/55091428/vw-to-invest-5-billion-in-ev-maker-rivian-establishing-joint-venture
﻿
﻿