VW CEO Oliver Blume is shelling out US automobile startup Rivian with billions to amass its software program. This could lastly pace issues up for VW – however the maneuver additionally carries main dangers.
VW boss Oliver Blume is shifting on rapidly. It invests billions within the California automobile startup Rivian to amass its software program. With this, Blume nearly ends the corporate’s pricey effort to develop the expertise for its personal digitally managed automobiles with the stroke of a pen. VW Group automobiles will probably be managed with Rivian’s digital expertise as early because the second half of the last decade, Blume mentioned when the plans had been introduced on Tuesday afternoon. Blume is prone to make investments $5 billion within the new enterprise: First, a billion will move to California, and VW will later use one other two billion to stabilize the capital of its new money companion from California. A further two billion will probably be because of the three way partnership with Rivian – if you happen to embody a mortgage of $1 billion deliberate for 2026.