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IRVINE, Calif. & WOLFSBURG, Germany--(BUSINESS WIRE)-- Rivian Automotive (NASDAQ: RIVN) and Volkswagen Group (XETRA: VOW / VOW3) entered into a transaction agreement to create their new joint venture (JV) – “Rivian and VW Group Technology, LLC”, known as Rivian and Volkswagen Group Technologies – with a total deal size of up to $5.8 billion, which is expected to start on November 13. Through this JV, the companies plan to bring next-generation electrical architecture and best-in-class software technology for both companies’ future electric vehicles, covering all relevant vehicle segments, including subcompact cars. It is highly complementary reflecting Rivian’s industry-leading software and electrical hardware technology as well as Volkswagen Group’s significant global scale and industry-leading vehicle platform competencies. Rivian will host a public call for its investors at 2pm PT / 5pm ET today.
https://rivian-special-call-webcast-2024.open-exchange.net/registration
https://www.businesswire.com/news/h...up-Announce-the-Launch-of-their-Joint-Venture
https://rivian-special-call-webcast-2024.open-exchange.net/registration
https://www.businesswire.com/news/h...up-Announce-the-Launch-of-their-Joint-Venture
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