financetom
Technology
financetom
/
Technology
/
Rivian says other automakers 'knocking on door' about tech from VW joint venture
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Rivian says other automakers 'knocking on door' about tech from VW joint venture
Jan 23, 2025 8:54 PM

PALO ALTO, California (Reuters) - A joint venture between U.S. electric pickup and SUV maker Rivian and Volkswagen is in talks with other automakers about supplying their software and electrical architecture, a senior Rivian executive said on Thursday.

The German automaker agreed in November to invest $5.8 billion in the joint venture, which will integrate advanced electrical infrastructure and Rivian's software technology for both companies' future electric vehicles.

While a joint venture will give Rivian higher volumes to negotiate better supplier deals and reduce costs, seen as critical amid a slowdown in EV demand, Volkswagen and potentially other traditional automakers will get quick and easy access to technology and software they have struggled to build for years.

"I'd say that many other OEMs are knocking on our door," Rivian Chief Software Officer Wassym Bensaid said in an interview, referring to Original Equipment Manufacturers, a phrase used to describe vehicle makers.

Bensaid, who is also co-CEO of the joint venture, declined to provide names of the interested automakers and details on what stage the talks were at.

Rivian's architecture requires fewer electronic control units and significantly less wiring, reducing vehicle weight and simplifying manufacturing. The technology is core to building cars with software that could be updated over the air like a smartphone - what the industry calls "software-defined vehicles", an area where established automakers are still running behind.

"There is demand," said Bensaid, adding that the priority until 2027 was to roll out the R2, Rivian's smaller, less-expensive SUV and to integrate the technology in other Volkswagen brands. "Obviously other OEMs are talking to us and we're trying to figure out how to support that in the future."

"Any other OEM who wants to make a leap from a technology standpoint, the joint venture today becomes one of the key partners with whom they can make that collaboration," he said.

The venture is likely to become the platform of choice in the Western world apart from Tesla, Canaccord Genuity analysts said in a note. The joint venture also helps alleviate "a significant chunk of the capital concern" for Rivian, the analysts said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
T-Mobile To Raise $2.5B Via Debt For Buybacks and Growth
T-Mobile To Raise $2.5B Via Debt For Buybacks and Growth
Oct 3, 2024
On Monday, T-Mobile US, Inc ( TMUS ) disclosed plans to raise $2.5 billion through a secondary senior notes offering for general corporate purposes, including share repurchases, dividends, and refinancing of existing indebtedness. T-Mobile USA subsidiary looks to sell the $700 million aggregate principal amount of its 4.200% Senior Notes due 2029, the $900 million aggregate principal amount of its...
Critical Insights From Salesforce Analyst Ratings: What You Need To Know
Critical Insights From Salesforce Analyst Ratings: What You Need To Know
Oct 3, 2024
In the latest quarter, 34 analysts provided ratings for Salesforce ( CRM ) , showcasing a mix of bullish and bearish perspectives. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 12 13 9 0...
Expert Ratings For Accenture
Expert Ratings For Accenture
Oct 3, 2024
Analysts' ratings for Accenture ( ACN ) over the last quarter vary from bullish to bearish, as provided by 7 analysts. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 3 2...
Forecasting The Future: 4 Analyst Projections For Jamf Holding
Forecasting The Future: 4 Analyst Projections For Jamf Holding
Oct 3, 2024
4 analysts have expressed a variety of opinions on Jamf Holding ( JAMF ) over the past quarter, offering a diverse set of opinions from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat...
Copyright 2023-2025 - www.financetom.com All Rights Reserved