Rivian and Volkswagen's new joint venture brings Rivian's software platform to Volkswagen, and Rivian is getting a lot of money for it.
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.
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