On June 25, Volkswagen Group announced that it would invest US$5 billion in U.S. electric vehicle manufacturer RIVIAN, and the two parties would jointly create a new joint venture with the same shareholding ratio. ,.
,”RIVIAN R2″, Volkswagen Group’s investment will be used for RIVIAN’s development plan to expand its future products.
The lower-priced, smaller SUV R2 is planned to be launched in early 2026, and the planned crossover R3.
The R2 is a model comparable to the Model Y and offers up to three-motor versions.
It has an acceleration time of less than three seconds from 0- 96km/h and a battery life of up to 480km.
The R3 is relatively more entry-level, with a smaller body size than the R2, but still provides three-second acceleration. ,.
,”RIVIAN R3″, and the new software company established will help Volkswagen Group solve its software difficulties.
RIVIAN plans to license its existing intellectual property rights to the new joint venture, and the RIVIAN R2 will become the first car to use the joint venture’s software.
Several brands under the Volkswagen Group, including Audi, Porsche, Lamborghini and Bentley, will also be equipped with the new joint venture’s software in the future. ,.
,”RIVIAN R1S”, according to the agreement, Volkswagen’s initial US$1 billion investment in RIVIAN will be in the form of unsecured convertible bonds that can be converted into equity in RIVIAN.
After obtaining the necessary regulatory approvals, the bond will be converted into Volkswagen’s direct equity interest in RIVIAN.
If the joint venture can be successfully established, Volkswagen plans to invest a total of US$4 billion in RIVIAN between 2024 and 2026, or invest in the joint venture.
Among them, the investment in RIVIAN will be made in two tranches, each of US$1 billion, in 2025 and 2026 respectively.
For the joint venture, Volkswagen will provide US$1 billion in funding when it is established in 2024 and a US$1 billion loan in 2026.
(Written by Dai Kan, Car Home), return to the home page of First Electric Network>,.
