Jump to content
News
Reviews
Discussons
Activity
Create New...
Close

  • 💬 Join the Conversation

    CnG Logo SQ 2023 RedBlue FavIcon300w.png
    Since 2001, Cheers & Gears has been the go-to hub for automotive enthusiasts. Join today to access our vibrant forums, upload your vehicle to the Garage, and connect with fellow gearheads around the world.

     

  • Drew Dowdell
    Drew Dowdell

    By Drew Dowdell •

    Rivian and Volkswagen Group to enter joint venture worth $5 billion

      The joint venture helps Rivian with cash and Volkswagen with software.

    Rivian and Volkswagen have announced a joint venture initially worth $ 1 billion to create the next generation of software-defined vehicles for both companies. Future investments and loans adding up to an additional $4 billion will occur in 2025 and 2026. 

    The venture will be equally owned and controlled by both companies to lower the cost per vehicle of both companies' vehicles. Rivian will contribute its electrical propulsion and battery expertise and license its software to the joint venture. The move gives Volkswagen access to Rivian's current EV propulsion designs to accelerate the rollout of VW Group vehicles.

    Rivian points out that this agreement does not cover areas such as chassis or non-propulsion-related component design. This means that the VW group's upcoming Scout brand will not feature badge-engineered Rivians.

    The investment will provide Rivian with some much-needed cash as it builds a new production facility in Georgia and gears up for the production of the Rivian R2 and Rivian R3.

    • Oh Yeah! 1
    Go to articles

    User Feedback

    Recommended Comments

    Drew Dowdell
    47 minutes ago, ccap41 said:

    This reminds me, @Drew Dowdell, is there anything left of the Rivian/Ford relationship? Did that just muster out or are they still partnering for something? 

    Ford sold out of most of their shares after the share value plummeted while Rivian was losing piles of cash.  Ford had to write off a $5.4 billion loss on their books because of some accounting things I don't understand. They only put in $500 million. 

    • Thanks 1
    • Facepalm 1
    Link to comment
    Share on other sites
    G. David Felt
    1 hour ago, Drew Dowdell said:

    Ford sold out of most of their shares after the share value plummeted while Rivian was losing piles of cash.  Ford had to write off a $5.4 billion loss on their books because of some accounting things I don't understand. They only put in $500 million. 

    I agree, never really understood the short-term investment and lack of not willing to benefit from Rivian. Some stupid leadership at Ford for sure.

    Link to comment
    Share on other sites
    Robert Hall
    15 minutes ago, G. David Felt said:

    I agree, never really understood the short-term investment and lack of not willing to benefit from Rivian. Some stupid leadership at Ford for sure.

    Perhaps Ford is too beholden on the stock market and investors and analysts expecting a huge ROI in a quarter...incapable of thinking long term for investments...

    • Agree 1
    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

    ×



  • Support Real Automotive Journalism

    Cheers and Gears Logo

    Since 2001, Cheers & Gears has delivered real content and honest opinions — not emotionless AI output or manufacturer-filtered fluff.

    If you value independent voices and authentic reviews, consider subscribing. Plans start at just $2.25/month, and paid members enjoy an ad-light experience.*

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Posts

    • oldshurst442
      Random Thoughts Thread

      By oldshurst442 · Posted

      complaining and whining whining and complaining At 00:30 eastern time.  23:30 cst time for those in middle America.   
    • trinacriabob
      Random Thoughts Thread

      By trinacriabob · Posted

      The problem is that all 3 big NYC airports are complicated and expensive to get to.  I don't like Chicago all that much (blame that on experiencing Champaign-Urbana and its connectedness to Chicago), but both O'Hare and Midway are accessible by regular CTA subway car rides from the city.
    • oldshurst442
      Beautiful Cars Appreciation Thread

      By oldshurst442 · Posted

      I didnt even know this car existed before I posted it.  I was looking for Audi A7s to post when I came across these ones.  And the reason why I was looking to post  A7s is because I find the A7 rear C pilar slope to be similar to the Alfa Romeo Alfetta and this current gen Accord to which I wanted to show case this in the thread.  Google though, showed me pics of that Audi and I fell in love with it that I had to post it.  And I immediately erased my bias that Audi mimicked the rear C pillar from the Alfetta.  These are the pics that introduced me to the Audi 100 coupe S     But the Accord on the other hand...mimics the A7 (RS7 pictured above) quite nicely. 
    • Robert Hall
      Beautiful Cars Appreciation Thread

      By Robert Hall · Posted

      Don't think I've ever seen one of those 70s Audi fastbacks... I recall seeing the sedan versions as a kid...
    • oldshurst442
      Random Thoughts Thread

      By oldshurst442 · Posted

      It turns out that the  the CEO at Jack Daniels might be thinking differently about Canadian sales of his whiskey...  I do not know how much money this equates to for Jack Daniels.  Might be as insignificant as that CEO first suggested.  2% in over Jack Daniel sales he said...  Sales to Canada did drop 62% though.    Hey, might not be enough for him to cry.  But as the rest of the world stands with Canada and they too boycott Jack Daniels,  sales  declined in Europe as well. Not by much, but the trade war effects with Europe are just now going to have an affect. ...  Give this some more time though, like when people drink with a purpose...like Christmas, and we will probably see those tears come out from that CEO and corporate owner of Jack Daniels.  Sales of Jack will probably decline in the US at this time \as people wont be able to afford luxuries such as alcohol  Christmas in the US wont be so merry Im afraid.   Remember, Trump did say that you might be able to afford just one doll.   Millennials and Gen Zers do not drink alcohol because of crazy Tik Tok trends and healthier lifestyles will soften the blow from reality I guess...  https://ca.news.yahoo.com/company-behind-jack-daniels-says-080000061.html   Phoque him Phoque Jack Daniels Phoque American distillers Phoque the US ELBOWS UP!!!    

  • Who's Online (See full list)

    • There are no registered users currently online

  • My Clubs

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search