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Rivian and Volkswagen Group form an equally controlled joint venture, Rivian and VW Group Technology, LLC, to combine Rivian’s electrical architecture and software stack with Volkswagen products and accelerate software development for both companies. Rivian said integration work is progressing well and expected the JV to close in Q4 2024, later confirming the JV and a Department of Energy loan could provide up to $10 billion of incremental capital. The $5.8 billion JV agreement includes a $1 billion Volkswagen Group equity investment, which Rivian received on June 30, 2025 after hitting gross profit milestones and winter weather testing benchmarks; Rivian also expects to draw on the DOE loan by early 2027, subject to conditions.
The Story · In Order · 9 Statements
Rivian and Volkswagen Group announced their intention to form an equally controlled joint venture to create next-generation electrical architecture and software technology.
Rivian said the Volkswagen Group partnership is expected to accelerate software development for both companies.
Rivian said the technical workstream to integrate its electrical architecture and software technology stack into Volkswagen Group products is progressing well and that Rivian expects to close the joint venture in the fourth quarter of 2024.
Rivian closed a joint venture with Volkswagen Group and a Department of Energy loan that provides up to $10 billion of incremental capital.
Rivian said that achieving gross profit has unlocked an expected $1 billion investment from Volkswagen Group through the Rivian and VW Group Technology, LLC joint venture.
Rivian received a $1 billion equity investment from Volkswagen Group on June 30, 2025.
The $1 billion Volkswagen Group investment is part of the $5.8 billion agreement associated with the Rivian and Volkswagen Group technology joint venture.
Rivian expects to draw on its Department of Energy loan by early 2027, subject to meeting certain conditions.
LatestVolkswagen Group's successful winter weather testing milestone unlocked a $1 billion equity investment in Rivian, which Rivian received today.
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