Rivian Automotive Inc. (NASDAQ: RIVN) entered into a deal with Volkswagen (VW), a move that has sparked a lot of chatter in the electric vehicle market. The $5 billion deal, after an initial $1 billion investment, aims to codevelop software platforms for both companies’ electric vehicles, providing Rivian with much-needed financial support and leveraging VW’s extensive manufacturing capabilities and global reach.
On the other hand, VW, one of the largest automotive giants, will receive access to cutting-edge software expertise. In an interview with CNBC, Cyrus Mewawalla, head of thematic intelligence at GlobalData, shared that Volkswagen has fallen behind in two critical areas: on electric vehicles and autonomous…
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