- Having already been in the works since the summer, Rivian and Volkswagen’s EV-related joint venture has been launched, in a deal worth $5.8 billion – up from the $5 billion originally announced during the summer.
- The joint venture will help create both electric architecture and software for next generation EVs – which will be ‘software defined vehicles’ (SDVs).
- The joint venture will be led by both Rivian’s Chief Software Officer, Wassym Bensaid, and Volkswagen Group’s Chief Technical Engineer, Carsten Helbing, with various developers and software engineers from both OEMs also joining the JV.
Rivian Volkswagen JV kicks off
The JV, which will be called ‘Rivian and Volkswagen Group Technologies’, will bring together Rivian’s expertise on the EV hardware and software side, and Volkswagen’s know-how in vehicle platforms and international sales, benefitting the competence of future electric cars from both brands.
The announcement also makes clear that the work through the JV will be evidenced in EVs sooner than we may have expected: With the JV helping to enable the launch of the Rivian R2 in 2026, while the first Volkswagen Group-owned models from the JV will arrive in 2027.
Volkswagen Group also stated that it hopes the JV will give benefits to the consumers also, most crucially in the form of cost savings ‘for both sides’.
Oliver Blume, CEO of Volkswagen Group, said:
“The partnership with Rivian is the next logical step in our software strategy. With its implementation, we will strengthen our global competitive and technological position. Today’s launch of the joint venture demonstrates the potential we want to leverage together in the coming years. We have a clear plan to offer our customers the best products and digital experiences at attractive prices through state-of-the-art development processes, innovative technological approaches, and a competitive cost base driven by synergies.”
RJ Scaringe, Founder and CEO of Rivian, added:
“Today’s finalization of our joint venture with Volkswagen Group marks an important step forward in helping transition the world to electric vehicles. We’re thrilled to see our technology being integrated in vehicles outside of Rivian, and we’re excited for the future. Rivian will continue to stay focused on creating best in class products and services that benefit our customers, helping to drive EV adoption.”
