VW launches $5.8bn tie-up with Tesla rival Rivian

Volkswagen Group and Rivian have launched a $5.8bn joint venture, with VW increasing its investment in the partnership to use Rivian’s EV technology. The collaboration aims to reduce development costs, scale new technologies faster, and introduce VW models equipped with Rivian technology by 2027. This strategic move comes amid slowing global demand for electric cars and increased competition from Chinese rivals, providing Rivian with crucial funding as it prepares to launch its R2 SUV model next year.

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