Volkswagen looking to deepen partnership with U.S. EV maker Rivian Source: https://www.evlife.sg/blog/volkswagen-looking-to-deepen-partnership-with-u.s.-ev-maker-rivian Volkswagen, opens new tab is considering ways to deepen its partnership with U.S. electric car maker Rivian, the German company's CEO told Spiegel magazine in comments published on Friday. "For example, we are thinking about sharing modules and bundling purchasing volumes," Oliver Blume said. "The Volkswagen group offers great opportunities for a small brand like Rivian." In a statement, the German group said that, in case the joint venture would be established successfully, Volkswagen “intends to make further investments in shares of Rivian Automotive, Inc., or in the joint venture in the total amount of 4 billion USD”. “The additional investment in shares of Rivian Automotive, Inc., would be made in two tranches of 1 billion USD each in 2025 and 2026 and would be contingent on Rivian Automotive, Inc., and the joint venture achieving certain milestones. With respect to the joint venture Volkswagen would provide a payment in the amount of 1 billion USD upon foundation of the joint venture in 2024 and grant a loan in the amount of 1 billion USD in 2026,” VW added.