Rivian and VW Group complete winter testing of new zonal architecture

RV Tech completed a winter test program, rV Tech, a joint venture between Volkswagen Group and Rivian, completed a winter test program.

VW Group announced a $5.8 billion investment in Rivian, vW Group announced a $5.8 billion investment in Rivian to gain access to Rivian’s vehicle software and electronic architecture.

Paid $1 billion in cash to Rivian, vW initially paid $1 billion in cash to Rivian with additional payments planned.

Payment milestone will unlock a further $1 billion payment, completion of the winter testing milestone is expected to trigger an additional $1 billion payment to Rivian.

VW Group created a new software division in 2019, vW created a new software division in 2019 to develop vehicle software.