Rivian and Volkswagen Secure German Approval for $5 Billion EV Software Partnership

The joint venture aims to leverage Rivian's software expertise and Volkswagen's scale to advance next-gen electric vehicle technology.

German authorities have cleared the formation of a joint venture between Rivian and Volkswagen, ensuring no significant competition issues.
Volkswagen will invest up to $5 billion, with $3 billion allocated to Rivian and $2 billion to the joint venture, contingent on achieving milestones.
The partnership focuses on developing advanced software and electrical architecture for future EVs, expected to reduce production costs.
Rivian's stock saw a slight increase following the announcement, reflecting investor optimism about the collaboration.
The joint venture is anticipated to launch by the end of the year, with vehicle production using the new technology slated between 2025 and 2030.