Volkswagen: Rivian investment will lead to reduced investment in Cariad-March 2024-www.financetom.com

Volkswagen: Rivian investment will lead to reduced investment in Cariad

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Volkswagen: Rivian investment will lead to reduced investment in Cariad

Aug 1, 2024 1:25 AM

BERLIN, Aug 1 (Reuters) - Volkswagen's

investment in EV maker Rivian will lead to reduced investment in

its software subsidiary Cariad, Chief Executive Oliver Blume

said on a results call on Thursday.

The unit remained relevant to Volkswagen and would work with

partners on software, Blume added.

(Reporting by Victoria Waldersee, editing by Thomas Seythal)

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