Reported 12 months ago
In a sluggish electric car market with Tesla offering discounts, smaller companies like Rivian are facing bankruptcy or seeking funding from major manufacturers. Recently, American electric car company Rivian received a $5 billion investment from Volkswagen Group, focusing on Rivian's vehicle software integration technology. Both parties benefit from this, as Rivian is known as a 'Tesla Killer' and is striving to survive in the competitive market, while Volkswagen gains technological expertise. Despite Rivian's losses, their advanced software development and control capabilities have attracted Volkswagen's investment, with an initial $10 billion injection planned.
Source: YAHOO