Volkswagen and Rivian officially launch joint venture in €5.8 billion EV push

Piet Andries

November 13, 2024

Volkswagen CEO Oliver Blume (left) is lending Rivian CEO JC Scaringe (right) 1 billion euro to give his company more oxygen. /Volkswagen

Volkswagen and Rivian have officially launched their joint venture, “Rivian and VW Group Technology, LLC,” which aims to accelerate the development of battery-powered vehicles and boost software architectures. The collaboration, valued at €5.8 billion, marks a significant increase from the €
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