US Electric Vehicle Company Rivian Receives $5 Billion Investment from Volkswagen Group

TapTechNews July 3rd, the American electric vehicle company Rivian received a $5 billion (TapTechNews note: currently about 36.447 billion Chinese yuan) investment from the German automotive giant Volkswagen Group on June 26th, and the two sides will jointly establish a joint venture.

Subsequently, the German business newspaper Handelsblatt reported that Rivian is in early discussions with Volkswagen, hoping to expand the cooperative relationship between the two sides beyond software to hardware and production businesses, or to produce the Rivian R2 electric SUV at the Volkswagen's under-construction factory in South Carolina, the United States.

Rivian responded by saying that there is currently no plan to cooperate with the Volkswagen Group to produce cars, while the Volkswagen side refused to comment, only stating that its focus is on the joint venture.

A spokesman for Rivian said that Rivian has not changed its plan to produce R2 at its plant in Normal, Illinois, and will also produce later at the planned plant in Georgia.

Volkswagen said it plans to start producing its Scout electric SUV and pickup models at its plant in South Carolina from 2026. A spokesman for ScoutMotors said: We have not had any negotiations about producing Rivian cars.