Big Law

Volkswagen Announces New Partnership with Rivian

Rivian stock (RIVN) surged on Wednesday after the EV maker announced a joint venture deal with Volkswagen (VWAGY), crucially bringing fresh capital into Rivian’s coffers.

Volkswagen announced it intends to work with Rivian to create “next generation software-defined vehicle (SDV) architectures” to be used in both companies’ future EVs. The joint venture will use Rivian’s “zonal hardware design” and platform as the foundation of future vehicles, as well as Rivian’s electrical architecture expertise for the vehicles. Rivian will license its existing IP rights to the joint venture.

Read more at Yahoo!Finance

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