{"id":2753,"date":"2024-11-13T03:39:40","date_gmt":"2024-11-13T03:39:40","guid":{"rendered":"https:\/\/260web.com\/news\/vw-launches-5-8bn-tie-up-with-tesla-rival-rivian\/"},"modified":"2024-11-13T03:39:40","modified_gmt":"2024-11-13T03:39:40","slug":"vw-launches-5-8bn-tie-up-with-tesla-rival-rivian","status":"publish","type":"post","link":"https:\/\/260web.com\/news\/vw-launches-5-8bn-tie-up-with-tesla-rival-rivian\/","title":{"rendered":"VW launches $5.8bn tie-up with Tesla rival Rivian"},"content":{"rendered":"<p>VW launches $5.8bn tie-up with Tesla rival Rivian<\/p>\n<div data-component=\"image-block\" class=\"ssrcss-1b5y2ub-ComponentWrapper-FullWidthWrapper ey0461q0\">\n<figure class=\"ssrcss-1vfya96-StyledFigure e34k3c22\">\n<div class=\"ssrcss-ab5fd8-StyledFigureContainer e34k3c21\"><span class=\"ssrcss-fmt1c3-Placeholder etlorgc0\"><picture><source srcset=\"https:\/\/ichef.bbci.co.uk\/ace\/standard\/240\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg.webp 240w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/320\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg.webp 320w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/480\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg.webp 480w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/624\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg.webp 624w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/800\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg.webp 800w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/976\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg.webp 976w\" type=\"image\/webp\"><img fetchpriority=\"high\" decoding=\"async\" alt=\"People look at the new Rivian R2 electric vehicle at the Rivian South Coast Theatre in Laguna Beach, California, on 7 March, 2024.\" loading=\"eager\" src=\"https:\/\/260web.com\/news\/wp-content\/uploads\/2024\/11\/ZRAzQM.jpg\" srcset=\"https:\/\/ichef.bbci.co.uk\/ace\/standard\/240\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg 240w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/320\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg 320w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/480\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg 480w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/624\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg 624w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/800\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg 800w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/976\/cpsprodpb\/f081\/live\/b740d760-a16a-11ef-835d-131cc03dd2cf.jpg 976w\" width=\"1024\" height=\"576\" class=\"ssrcss-11yxrdo-Image edrdn950\"><\/picture><\/span><span role=\"text\" class=\"ssrcss-tvuve5-StyledFigureCopyright e34k3c20\">Getty Images<\/span><\/div>\n<\/figure>\n<\/div>\n<div data-component=\"byline-block\" class=\"ssrcss-1hbb5i-BylineComponentWrapper e8mq1e90\">\n<div class=\"ssrcss-qt5zqv-BylineWrapper e8mq1e917\">\n<div class=\"ssrcss-h3c0s8-ContributorContainer e8mq1e916\">\n<div class=\"ssrcss-1u2in0b-Container-ContributorDetails e8mq1e913\">\n<div class=\"ssrcss-68pt20-Text-TextContributorName e8mq1e96\">Jo\u00e3o da Silva<\/div>\n<div class=\"ssrcss-84ltp5-Text e8mq1e910\">Business reporter<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ssrcss-jlwt2c-Divider e8mq1e915\"><\/div>\n<\/div>\n<div data-component=\"metadata-block\" class=\"ssrcss-xza2yt-ComponentWrapper ep2nwvo1\">\n<div>\n<ul role=\"list\" class=\"ssrcss-1ik71mx-MetadataStripContainer eh44mf03\">\n<div class=\"ssrcss-13nu8ri-GroupChildrenForWrapping eh44mf02\">\n<li role=\"listitem\" class=\"ssrcss-30fcoe-MetadataStripItem eh44mf01\">\n<div class=\"ssrcss-m5j4pi-MetadataContent eh44mf00\"><span class=\"ssrcss-1pvwv4b-MetadataSnippet e4wm5bw3\"><span class=\"ssrcss-1if1g9v-MetadataText e4wm5bw1\"><time data-testid=\"timestamp\" datetime=\"2024-11-13T03:20:27.184Z\">14 minutes ago<\/time><\/span><\/span><\/div>\n<\/li>\n<\/div>\n<\/ul>\n<\/div>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\"><b class=\"ssrcss-1xjjfut-BoldText e5tfeyi3\">Volkswagen Group (VW) and Tesla rival Rivian have launched a joint venture, with the German car giant increasing its investment in the partnership.<\/b><\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The two companies say the the deal is now worth $5.8bn (\u00a34.55bn) &#8211; up from an initial pledge of $5bn by VW.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Shares in the US electric vehicle (EV) maker jumped more than 9% in after-hours trading following the announcement.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The tie-up will see the firms sharing critical technology at a time of slowing global demand for electric cars and increased competition from Chinese rivals.<\/p>\n<\/div>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The joint venture provides loss-making Rivian with a crucial source of funding as it prepares for the launch next year of its R2 model &#8211; a sports utility vehicle (SUV) that is smaller and more affordable than its current offerings.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It also means VW will be able to use Rivian&#8217;s technology in its own range of vehicles.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The first VW models equipped with Rivian technology are expected to be available to customers as early as 2027.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;By combining their complementary expertise, the two companies plan to reduce development costs and scale new technologies more quickly,&#8221; the two companies said in a statement.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Under the plan, developers and software engineers from both firms will initially work side by side in California, while three other facilities in North America and Europe will be set up.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">\n<\/div>\n<\/div>\n<div data-component=\"topic-list\" class=\"ssrcss-1qmkvfu-TopicListWrapper etw6iwl1\">\n<div class=\"ssrcss-113c0cq-StyledTagContainer ed0g1kj1\">\n<div class=\"ssrcss-50vlbt-TopicListHeaderWrapper etw6iwl0\">\n<h2 type=\"normal\" class=\"ssrcss-ad2rmd-Heading e10rt3ze0\">Related topics<\/h2>\n<\/div>\n<div class=\"ssrcss-17ehax8-Cluster e1ihwmse1\">\n<ul role=\"list\" spacing=\"2\" class=\"ssrcss-1ujonwb-ClusterItems e1ihwmse0\">\n<li>Volkswagen<\/li>\n<li>International Business<\/li>\n<li>Tesla<\/li>\n<li>Electric cars<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>Published at Wed, 13 Nov 2024 03:20:27 +0000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VW launches $5.8bn tie-up with Tesla rival Rivian Getty Images Jo\u00e3o da Silva Business reporter 14 minutes ago Volkswagen Group (VW) and Tesla rival Rivian have launched a joint venture, with the German car giant increasing its investment in the partnership. The two companies say the the deal is now worth $5.8bn (\u00a34.55bn) &#8211; up&hellip; <a class=\"more-link\" href=\"https:\/\/260web.com\/news\/vw-launches-5-8bn-tie-up-with-tesla-rival-rivian\/\">Continue reading <span class=\"screen-reader-text\">VW launches $5.8bn tie-up with Tesla rival Rivian<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":2752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/2753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/comments?post=2753"}],"version-history":[{"count":0,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/2753\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media\/2752"}],"wp:attachment":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media?parent=2753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/categories?post=2753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/tags?post=2753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}