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Big investment in the EV world ⚡️ By now, you will have seen the news that VW is set to invest up to $5 billion in Tesla rival Rivian, forming a joint venture that promises to revolutionise the industry. But what exactly does this mean? This collaboration will enable both companies to share technology, accelerating their growth and innovation in the competitive EV market. Rivian shares soared nearly 50% following the announcement, reflecting the market's confidence in this partnership. Initially, VW will invest $1 billion in the electric truck and SUV maker, with another $4 billion to follow by 2026. This strategic move provides VW with immediate access to Rivian’s cutting-edge software, which the German car maker can integrate into its vehicles to enhance their EV offerings. This alone is absolutely massive. This partnership brings numerous benefits to both companies. VW gains access to Rivian’s innovative technology, which can bolster its position in the rapidly evolving EV market. Rivian, on the other hand, benefits from VW's extensive resources and market reach, which can help the start-up scale its operations and accelerate its path to profitability. Moreover, this deal underscores the thriving nature of the EV industry. The continued investment from major players like VW highlights the sector's robust growth potential and the increasing shift towards sustainable transportation solutions. It’s an exciting time as we witness transformative shifts in the automotive industry, driven by strategic collaborations and significant investments. As competition intensifies among EV makers and Western countries impose tariffs on Chinese imports, partnerships like this are crucial for maintaining a competitive edge. VW, facing pressure from rivals like Tesla and China’s BYD, and Rivian, striving to establish its foothold in the market, are both well-positioned to benefit from this alliance. In addition to technological advancements, this joint venture signifies a strong commitment to innovation and sustainability in the automotive sector. It highlights the importance of collaboration in overcoming market challenges and driving forward the EV revolution. #vw #rivian #bbc #electriccars #electricvehicles #evcharging #investment #sustainability #innovation #technology #greenerfuture #netzero

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William Allen

Founder and CEO of R&D at FoxxLewis. Advancement of long-duration energy storage from alternative sources.

4mo

They will regret that decision.

Michael Sura

⚡Energy and transport analyst, strategist, and advisor⚡ Supporter of a sustainable future. The first aid provider for #hopium overdose

3mo
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Mark Stubbs

Senior Programme Manager, EV Hubs at GRIDSERVE Sustainable Energy Limited

4mo

The Silicon Valley model seems to consistently outperform what comes out of Germany, Japan, Korea, Detroit, etc. VAG had an independant software company and threw billions of dollars and thousands of engineers and coders at the making it work but, it basically failed to make any software which was anywhere near as good as it needed to be….

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Sandy Gunn

Island Centre for Net-Zero, Orkney

3mo

Interesting, Rivian is a very ugly SUV, however EVs are massively dependent on the software elements (failure in this area led to Nokia's departure from the mobile phone market - not the hardware issues, case study in my Articles). So this might be a very smart move by VW if the software is top notch - a poor buy if they are making the mistake of Nokia and Windows 7 merger! It might just show the desperation of incumbent manufacturers trying to protect their burning platforms.

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Jordan Marsden

The EV Guy - Consulting, Education & Content ⚡️ A central hub for Salary Sacrifice, Recruitment, Finance & Leasing, Car Park Charging, Home Charging and Fleet Insurance.

4mo

That’s a big chunk of money, and another huge investment in EV 💪🏻⚡️

ᖇᗩᑌᒪ ᗩᖇᖇEᗪOᑎᗪO - ᗩᑌTO, Eᐯ, ᗷᗩTTEᖇY

I Accelerate Your Growth™️ 💠 eMobility & Battery Nerd 💠 Global Strategy & Marketing Executive 💠 Spanish, Italian & French Fluency 💠 AI Enthusiast 💠 Digital Transformation & Industry 4.0 Leader 💠 DEIB Champion

4mo

This demonstrates, in my opinion, that EV Startups have a lot of value to the overall health of the Automotive industry... even when the startups are struggling to scale up operations and/or be profitable.

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Brian Peterson

I make people's nuts!

4mo

This is interesting because VW is doing decent in the EV market, but I'm guessing they see something in the Rivian technology that they feel will help them..

Dr Lucy Davey MBBS BSc

The EV Mum; Speaker, passionate about education, safety & inclusivity in the electric vehicle space; sharing knowledge & helping others along the way.

4mo

Interesting

Rudy Suminwa

🎯 I facilitate investments and partnerships, bridging the gap between business needs and innovative solutions to drive success across diverse sectors.

3mo

Who? Telsa has rival other then combustion engine brands?

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