Rivian’s VW deal could make it the Apple or Google of EV software

The spotlight has been on Rivian's long-term health for a bit now. With the company under financial pressure to get over the hump of moving from its R1 lineup into its R2 future, where the company is expected to experience its Tesla Model Y moment, there has been doubt thrown around about its ability to survive financially until then. Enter Volkswagen.

Not only is this partnership expected to bring our software and associated zonal architecture to an even broader market through Volkswagen Group’s global reach, but this partnership also is expected to help secure our capital needs for substantial growth. Rivian was created to help the world to transition away from fossil fuels through compelling products and services, and this partnership is beautifully aligned with that mission.

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How Volkswagen's Endless Software Headaches Led It To RivianVolkswagen's CARIAD software division never fully overcame its longtime troubles. Now, it turns to American EV startup Rivian for help.
Source: InsideEVs - 🏆 579. / 51 Read more »

Rivian shares soar on massive cash injection from Volkswagen, starting immediately with $1 billionShares of Rivian are soaring before the opening bell after Volkswagen agreed to invest $1 billion in the electric vehicle maker immediately and a potential total of up to $5 billion as part of a software development agreement
Source: ABC - 🏆 471. / 51 Read more »