Volkswagen, Rivian joint venture clears hurdle

AutoExec Summary
A joint venture between German car giant Volkswagen and US electric vehicle (EV) startup Rivian has been approved by Germany’s Bundeskartellamt, clearing the way for collaboration on next-generation EV technology. Volkswagen plans to invest US$5 billion in Rivian by 2026 to reduce vehicle development costs and speed up the process. While the partnership will not involve sharing vehicles, both companies are working towards ensuring compatibility of electrical architecture and software. Volkswagen has faced challenges with its Cariad software division, while Rivian has been renegotiating contracts and cutting costs to address losses per vehicle delivered. Rivian currently produces electric utes and SUVs, with plans for smaller SUV models.

Brands mentioned: Volkswagen, Rivian