{"id":125228,"date":"2024-11-13T04:53:51","date_gmt":"2024-11-12T21:53:51","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=125228"},"modified":"2024-11-13T04:53:51","modified_gmt":"2024-11-12T21:53:51","slug":"vw-and-rivian-officially-kick-off-5-8-billion-joint-venture-announce-leadership","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=125228","title":{"rendered":"VW and Rivian officially kick off $5.8 billion joint venture, announce leadership"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Volkswagen and Rivian have crossed all their T\u2019s and dotted all their I\u2019s in <a href=\"https:\/\/www.theverge.com\/2024\/6\/25\/24185946\/vw-rivian-joint-venture-investment-software-r2\">their new $5.8 billion joint venture<\/a>, which officially kicks off its work on November 13th, the companies announced today. <\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Last June, VW said it would invest $5 billion in Rivian as part of a new joint venture that\u2019s focused on developing a new electrical architecture and vehicle software for future models, including subcompact cars, with the first planned for 2027. The investment size has now increased to $5.8 billion. <\/p>\n<\/div>\n<div>\n<div class=\"duet--article--article-pullquote mb-20\">\n<p class=\"duet--article--dangerously-set-cms-markup relative bg-repeating-lines-dark bg-[length:1px_1.2em] pb-8 font-polysans text-28 font-medium leading-120 tracking-1 selection:bg-franklin-20  dark:bg-repeating-lines-light dark:text-white dark:selection:bg-blurple\">\u201cRivian and VW Group Technology, LLC\u201d<\/p>\n<\/div>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">The new joint venture, dryly named \u201cRivian and VW Group Technology, LLC,\u201d will be led by Rivian software chief Wassym Bensaid and VW Group chief technology engineer Carsten Helbing. Teams will be based in Palo Alto, California, initially, and three other sites are in development in North America and Europe.\u00a0Developers and engineers from both companies will fill out the ranks of the new venture. <\/p>\n<\/div>\n<div>\n<div class=\"my-9\">\n<p><figcaption class=\"duet--article--dangerously-set-cms-markup inline text-gray-13 dark:text-gray-e9 [&amp;&gt;a:hover]:text-black [&amp;&gt;a:hover]:shadow-underline-black dark:[&amp;&gt;a:hover]:text-gray-e9 dark:[&amp;&gt;a:hover]:shadow-underline-gray-63 [&amp;&gt;a]:shadow-underline-gray-13 dark:[&amp;&gt;a]:shadow-underline-gray-63\"><em>(Left to right) Oliver Blume,\u00a0Carsten Helbing,\u00a0Wassym Bensaid, and\u00a0RJ Scaringe.<\/em><\/figcaption><cite class=\"duet--article--dangerously-set-cms-markup inline not-italic text-gray-63 dark:text-gray-bd [&amp;&gt;a:hover]:text-gray-63 [&amp;&gt;a:hover]:shadow-underline-black dark:[&amp;&gt;a:hover]:text-gray-bd dark:[&amp;&gt;a:hover]:shadow-underline-gray [&amp;&gt;a]:shadow-underline-gray-63 dark:[&amp;&gt;a]:text-gray-bd dark:[&amp;&gt;a]:shadow-underline-gray\">Image: Rivian<\/cite><\/p>\n<\/div>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">At the time, the new venture was seen as a big win for Rivian, which has lost over $1 billion each quarter for the past year and is still struggling to find its financial footing. The company recently said it expected to lose up to $2.88 billion in adjusted earnings for the year, up from the previous guidance of $2.7 billion in losses. And it has gone <a href=\"https:\/\/www.theverge.com\/2024\/2\/21\/24079572\/rivian-layoff-ev-production-q4-earnings\">through<\/a> <a href=\"https:\/\/www.theverge.com\/2023\/2\/1\/23581642\/rivian-layoff-ev-workers-employees-price-cut\">several<\/a> <a href=\"https:\/\/www.theverge.com\/2022\/7\/11\/23204199\/rivian-electric-vehicles-layoffs-planned-manufacturing\">rounds<\/a> of layoffs over the past two years. <\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.theverge.com\/2024\/11\/12\/24294827\/vw-rivian-joint-venture-leadership-ev\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volkswagen and Rivian have crossed all their T\u2019s and dotted all their I\u2019s in their new $5.8 billion joint venture, which officially kicks off its work on November 13th, the &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=125228\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-125228","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125228"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125228\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}