A big cash infusion for the EV startup.
    • Brkdncr@lemmy.worldEnglish
      8·
      5 months ago

      90% sure I saw this guy at a Margaritaville in Palm Springs. Looked exactly like him, had a lanyard and had some sort of assistant walking with him.

    • Pringles@lemm.eeEnglish
      40·
      5 months ago

      Volkswagens EV platform is a mess because the CEO responsible for the pivot to EV within VW, was only allowed to implement it if he stopped being the CEO. So the next guy half assed the 80B$ pivot to EV, leading to VW being one of the worst performers amongst EV producing OEMs.

      So now they are on the market to buy whatever is needed to get them out of the hot mess they created themselves.

    • sushibowl@feddit.nlEnglish
      30·
      5 months ago

      VW is good at making cars, but bad at software. They’ve had to delay the introduction of new models (Golf, ID.3) because of software issues. Rivian has sort of the opposite problem: their production lines sit still often because of problems in the supply chain.

      Volkswagen has the expertise to solve Rivian’s production and supplier problems, and the cash they will need to survive and develop some cheaper models (the EV market is stagnating right now for a lack of budget options, and Rivian only sells trucks and SUVs). And they’re hoping Rivian software engineers can help them fix their software woes.

  • rishado@lemmy.worldEnglish
    4·
    5 months ago

    I think this is fucking awesome. Complete win for all of us hoping for better and more affordable EVs.

  • AutoTL;DR@lemmings.worldBEnglish
    4·
    5 months ago

    This is the best summary I could come up with:

    The joint venture will be co-owned by Rivian and VW Group, which oversees brands like Audi, Porsche, Lamborghini, and its flagship Volkswagen.

    The new venture was announced in a post from Rivian CEO RJ Scaringe, who noted the investment will help the company bring its next generation R2 electric vehicle to market starting in 2026.

    VW Group CEO Oliver Blume said all of the company’s brands could benefit from the partnership with Rivian, including potential competitor Scout Motors, which is planning to launch a new lineup of electric trucks in the US.

    The plan was to use Rivian’s battery pack and electric motor setup in a Ford or Lincoln branded SUV.

    Asked whether the deal would make Rivian the exclusive partner to VW and its brands, Scaringe declined to answer directly.

    “In the context of the joint venture, we have certainly talked about the ability to work on other products or private programs outside of the Rivian or Volkswagen Group portfolio,” he said.

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