This looks set to be good news for everyone looking for more affordable electric vehicles.
American EV automaker Rivian has launched a new joint venture with the Volkswagen Group to pool together resources for the future of EVs. "The aim of the joint venture is to speed up innovation, increase scale and lower the cost of owning an EV for millions of people around the world," said Wassym Bensaid, co-CEO of the joint venture.
The $5.8 billion deal aims to be a marriage of Rivian's EV hardware and software capabilities and Volkswagen's ability to build cars at scale.
According to a new report from TechCrunch, VW's forthcoming ID EVERY1, will be the first to use Rivian's software and electrical architecture, and offer "affordable mobility for millions of people."
VW says: "Our goal is to be the world’s technologically leading high-volume manufacturer by 2030. And as a brand for everyone - just as you would expect from Volkswagen.”
The company says that the ID. EVERY1 is expected to go into production in 2027. It notes that the vehicle will first be released in its native Europe at an attractive price point of about 20,000 euros ($21,200).
You may also be interested in:
Ford CEO Trashes Large EVs Again: Jim Farley has doubled-down on his comments last year about Americans needing to break their "monster" car addition.
Ferrari's Wild Success as a Luxury Fashion Brand: "We are not an automotive company," says Ferrari's CEO.
Today's Articles
Zero Emissions: In good news for people and planet, a new process can make steel that is completely carbon neutral.
The Magic of Mushrooms: Danielle Stevenson uses fungi to transform ugly, toxic brownfield sites into thriving meadows.
World's Shortest IQ Test: It will reveal how average your intelligence is in just 3 questions. Why not give it a go?