Rivian, Volkswagen Group announce new joint ventures into EV tech [Video]

Rivian and Volkswagen Group announced on Tuesday the two companies would be working on a joint venture to develop next-generation electrical architecture and best-in-class software technology. 

Both companies will have an equal stake in the new joint venture, which aims to lower costs per vehicle through increased scale and faster innovation on a global scale. 

The goal is to use Rivian’s hardware design and integrated technology platform as the foundation and to develop vehicles during the second half of the decade. In the short term, Volkswagen Group will utilize Rivian’s existing electrical architecture and software platform. 

Rivian and Volkswagen Group’s joint venture 

Each company will continue to operate their respective vehicle businesses separately. 

Oliver Blume, CEO of Volkswagen Group, stated: “Our customers will benefit from this targeted partnership with Rivian to create a leading technology architecture. Through our cooperation, we will bring the best solutions to our vehicles faster and at a lower cost. This partnership …