Faster, Leaner, More Efficient: Rivian and Volkswagen Group Announce the Launch of their Joint Venture

Download
Pietro Zollino
Pietro Zollino
Volkswagen Group Communications Volkswagen Group | Deputy Head of Group Communications & Head of Corporate Communications
Jonas Kulawik
Jonas Kulawik
Corporate Communications Spokesperson Product & Technology, Digitalization
Christopher Hauss
Christopher Hauss
Corporate Communications Head of Strategy & Finance Communications
Faster, Leaner, More Efficient:  Rivian and Volkswagen Group Announce the Launch of their Joint Venture
f.l.t.r. Oliver Blume, CEO Volkswagen Group, Carsten Helbing, designated future co-CEO of the joint venture, Wassym Bensaid, co-CEO of the joint venture, RJ Scaringe, Founder and CEO of Rivian.
  • New joint venture (JV) with a total deal size of up to $5.8 billion combines the strength of both partners to create cutting-edge software and electronics architectures and scale the electric vehicle platforms and architectures.
  • Engineers join the JV to create electric architecture and software for next generation Software Defined Vehicles (SDV).
  • JV to be co-led by Wassym Bensaid (Rivian) and Carsten Helbing (Volkswagen Group).
  • Oliver Blume, CEO Volkswagen Group: “The partnership with Rivian is the next logical step in strengthening our global competitive and technological position.”
  • Rivian CEO RJ Scaringe: “We’re thrilled to see our technology being integrated in vehicles outside Rivian – this is an important enabler to help accelerate EV adoption.”

Irvine, California / Wolfsburg, germany. Rivian Automotive (NASDAQ: RIVN) and Volkswagen Group (XETRA: VOW / VOW3) entered into a transaction agreement to create their new joint venture (JV) – “Rivian and VW Group Technology, LLC”, known as Rivian and Volkswagen Group Technologies - with a total deal size of up to $5.8 billion, which is expected to start on November 13. Through this JV, the companies plan to bring next-generation electrical architecture and best-in-class software technology for both companies’ future electric vehicles, covering all relevant vehicle segments, including subcompact cars. It is highly complementary reflecting Rivian’s industry-leading software and electrical hardware technology as well as Volkswagen Group’s significant global scale and industry-leading vehicle platform competencies.

Download
The specified fuel consumption and emission data does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO2 emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Further information on official fuel consumption data and official specific CO2 emissions for new passenger cars can be found in the "Guide to fuel economy, CO2 emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at www.dat.de/co2.