EV partnership launch

Rivian and Volkswagen Group Technologies launched their joint venture on Wednesday, November 13. The total deal size is up to $5.8 billion (up from $5 billion). Volkswagen Group will be in for “about $1.3 billion” in exchange for background IP licenses and a 50% equity stake in the venture.

Electric-vehicles | Rivian and VW Group Officially Launch JV, Expand Deal Size to $5.8 Billion