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Rivian And VW Join Up To Design Vehicle Software
Rivian and Volkswagen Group are launching a joint venture to develop car software, the firms announced on Tuesday.
As part of the agreement, VW would invest $5 billion in struggling electric vehicle manufacturer Rivian, including a $1 billion initial investment.
Rivian And VW Join Up To Design Vehicle Software
The two manufacturers did not disclose the name of the new joint venture business or its executive team. Rivian CEO RJ Scaringe announced during a conference call that the company would have two co-leaders, each reporting to one of the automakers.
“The way the joint venture has been configured as it’s a 50/50 joint venture that’s designed with two co-CEOs that report effectively in to both businesses,” according to Scaringe.
Scaringe said Volkswagen’s investments will offer funds to assist Rivian in expanding its manufacturing as it plans to develop a new factory in Georgia.
“This is important for us financially,” he claimed, “and one of the elements here is that it’s also implicit Rivian’s successes is important for Volkswagen Group’s success.”
Both businesses intend to launch new vehicles using the joint venture’s technologies before 2030.
Rivian’s fundamental vehicle software design will provide the new company’s software foundation. The company’s technology will comprise both user-interface software that controls the entertainment system and gauges and deeper vehicle software that interacts with the car’s motors. According to a joint release, Rivian will also contribute to the electric hardware designs that will power these devices.
VW already has its car software division, Cariad, which will continue to work, VW CEO Oliver Blume stated on a conference call. He said the new joint venture’s work would supplement, not replace, Cariad’s.
Scaringe stated on the call that the firms may collaborate on automobiles, although this is not currently planned. The companies will now collaborate primarily on vehicle software and computer systems.
Scaringe and Blume first discussed the joint business when visiting Porsche’s Experience Center in Atlanta, where Porsche owners and fans can test-drive Porsche automobiles and SUVs on a track.
“So, we had a lot of fun just talking about how aligned we both saw (cars),” added Scaringe. “But, quickly, that led to a serious conversation as to how can we look at working together.”
Blume is not only the CEO of the Volkswagen Group but also Porsche. Scaringe stated that he is a long-time Porsche lover and when he was S to restore cla
Rivian and Volkswagen Group are launching a joint venture to develop car software, the firms announced on Tuesday.
Rivian And VW Join Up To Design Vehicle Software
As part of the agreement, VW would invest $5 billion in struggling electric vehicle manufacturer Rivian, including a $1 billion initial investment.
The two manufacturers did not disclose the name of the new joint venture business or its executive team. Rivian CEO RJ Scaringe announced during a conference call that the company would have two co-leaders, each reporting to one of the automakers.
“The way the joint venture has been configured as it’s a 50/50 joint venture that’s designed with two co-CEOs that report effectively in to both businesses,” according to Scaringe.
Scaringe said Volkswagen’s investments will offer funds to assist Rivian in expanding its manufacturing as it plans to develop a new factory in Georgia.
“This is important for us financially,” he claimed, “and one of the elements here is that it’s also implicit Rivian’s successes is important for Volkswagen Group’s success.”
Both businesses intend to launch new vehicles using the joint venture’s technologies before 2030.
Rivian’s fundamental vehicle software design will provide the new company’s software foundation. The company’s technology will comprise both user-interface software that controls the entertainment system and gauges and deeper vehicle software that interacts with the car’s motors. According to a joint release, Rivian will also contribute to the electric hardware designs that will power these devices.
VW already has its car software division, Cariad, which will continue to work, VW CEO Oliver Blume stated on a conference call. He said the new joint venture’s work would supplement, not replace, Cariad’s.
Rivian And VW Join Up To Design Vehicle Software
Scaringe stated on the call that the firms may collaborate on automobiles, although this has yet to be planned. For the time being, the companies will collaborate primarily on vehicle software and computer systems.
Scaringe and Blume first discussed the joint business when visiting Porsche’s Experience Center in Atlanta, where Porsche owners and fans can test-drive Porsche automobiles and SUVs on a track.
“So, we had a lot of fun just talking about how aligned we both saw (cars),” added Scaringe. “But, quickly, that led to a serious conversation as to how can we look at working together.”
Blume is not only the CEO of the Volkswagen Group but also Porsche. Scaringe stated he is a long-time Porsche fan who used to rebuild ancient Porsche sports vehicles. Standard Porsche sports vehicles.
SOURCE – (CNN)