? *BREAKING* Rivian & VW Announce Joint Venture -- VW Investing $1B in Rivian and another $4B to form JV for next gen EVs

[Ericw]

Please just let VW build the R3X in an existing factory and bring it to market in 2025. That would be such a game-changer.

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[mkg3]

QM Rally Bugatti is my guess. ?

Now your talkin'.

 

[schwartz83]

If I squint I can almost see my break even!

 

[dgennetten]

Webcast - https://edge.media-server.com/mmc/p/np66dfvk

6pm Eastern

 

[Mark_AZR1T]

If I squint I can almost see my break even!

Let's not get ahead of ourselves....

 

[BigSkies]

This is great for both Rivian and VW.

I've always thought Ford's decision to back out of their Rivian partnership was a huge mistake for both companies. Sharing technology and a platform would put both companies in a significantly better financial position today than they are today.

Not every company needs to independently develop every piece of the EV tech puzzle. The industry would be better off if more companies were willing to sell, license or manufacture their technology for others.

 

[LordPasta]

Golf R using the R3X platform is my dream right now.

 

[Chewy734]

Now your talkin'.

It’s either that, or Rivian is designing the “Scout” character dog as Gary’s friend, and integrating that everywhere in their software.

 

[Southern R1S]

Very interested to see how this is structured but $5B is huge!

Here's the official investment schedule from Rivian's press release:

 

[FutureTruck]

Guess the Scout platform will get some of the Rivian software….

Also, we will now have to charge to 100% at every DCFC like ID.4 owners…

 

[Southern R1S]

It also looks like Rivian may be teasing an additional Gen 2 & Gen 3 vehicle, although those could be just placeholders and/or offshoots of the EDV:

 

[CharonPDX]

VW said it would invest $2 billion in the creation of a jointly-owned software company that uses Rivian’s vehicle technology as the foundation for programs that will go into both automakers’ future vehicles in the latter half of the decade.

Most interesting! So not "Rivian will be building our new Scout vehicles" (at least not immediately/obviously.) I've heard VW's software has improved over the last couple years, but is still pretty bad, and Rivian's has been pretty good, so this is a good sign.

 

[tcole]

Shareholder letter - https://assets.rivian.com/2md5qhoea...n_Group_Announce_Technology_Joint_Venture.pdf

Webcast - https://edge.media-server.com/mmc/p/np66dfvk

Rivian is teasing another R1 Gen2 vehicle in there.

and a R2/R3 type vehicle. Plus 3 mass market vehicles.

looking forward to the speculation!

 

[Mark_AZR1T]

I know it's VW and they have a history, but they do have significant resources globally. I imagine the bullseye is now firmly Tesla with their obvious leadership challenges....

 

[sacramentoelectric]

Wonder how long before this falls apart like the Mercedes JV.

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