In a calculated move to counter mounting Chinese competition and accelerate its electric vehicle capabilities, Volkswagen has finalized a $5.8 billion investment in Rivian Automotive, expanding their initial $5 billion partnership announced in June 2023. The partnership materialized after a telling test drive in Palo Alto last August, where VW executives examined a modified Audi EV retrofitted with Rivian’s advanced over-the-air update capabilities. The vehicle demonstrated wireless control updates for systems ranging from air conditioning to rear-axle steering – capabilities that caught the attention of VW’s engineering team. Technical Integration and Joint Venture Structure The newly formed Rivian and Volkswagen … Continue reading Volkswagen and Rivian Form $5.8 Billion Joint Venture Targeting EV Tech Integration and Financial Recovery