The partnership is expected to produce its first versions based on Rivian’s advanced electric vehicle technology starting in 2027, said Oliver Blume, CEO of the Volkswagen Group, during the launch of the joint project in Palo Alto, Northern California, on Tuesday.
“And aim”VolkswagenEurope’s largest automaker, has decided to leverage Rivian’s innovative electric vehicle architecture and software to streamline its lineup Electric cars.
The collaboration will focus on a range of technologies, including software systems, control computers and network architecture.
The two companies announced the cooperation at the end of June, and in July it was approved by the German Antitrust Authority.
Of the total investment of 5.8 billion euros, 3.5 billion euros will be allocated to acquire a direct stake in RivianWhile 2.3 billion euros will go to finance the joint project, with 1 billion euros allocated as a loan.
