Picture provided by Volkswagen Group CEO Oliver Blume and Rivian founder and CEO RJ Scaringe. The two companies announced their joint venture plan on June 25, 2024.
Courtesy: Business Wire
Rivian Cars and Volkswagen Group have released details of their previously announced joint venture before the operation launches on Wednesday.
The two companies said in a joint press release on Tuesday that the deal size is now up to $5.8 billion (originally $5 billion), and the first Volkswagen models using Rivian’s software and electrical architecture will be available as early as 2027. Volkswagen Group Technology GmbH”.
The deal was initially announced in June as Rivian sought to raise additional capital to launch a redesigned model and prepare for production of a new “R2” car in early 2026.
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