VW $VOW (-0,75 %) EXPANDS $RIVN (+1,04 %) PARTNERSHIP WITH $800M INVESTMENT

Volkswagen has expanded its partnership with Rivian with an additional $800M, building on their existing $5B collaboration to advance EV technology.

The joint venture now has co-CEOs, Rivian's Chief Software Officer Wassym Bensaid and VW’s Chief Technology Officer Carsten Helbing, overseeing a dedicated team of 1,000 engineers.

The focus is on integrating Rivian’s software into VW’s vehicle platforms, demonstrated by a prototype developed in just 12 weeks. Volkswagen plans to bring vehicles with this joint technology to market by 2027, with its Scout brand set to incorporate the new advancements.

The partnership also opens tech licensing opportunities to other automakers, aiming for swift innovation amid a shifting EV market and economic headwinds. This move strengthens VW's position in the U.S. while supporting Rivian’s growth with VW’s scale and capital support.