Rivian Just Unlocked Another $1 Billion From Volkswagen After Their Joint Venture Passed Winter Testing

The Rivian-Volkswagen joint venture, RV Tech, completed winter testing of its new zonal electrical architecture across Arizona heat and Swedish cold. The first vehicle running on this system is the VW ID.EVERY1. The milestone triggers another $1 billion investment from VW, split between $750 million in equity and $250 million in equity or convertible debt. VW has now put over $3 billion into Rivian through the partnership, with up to $5.8 billion possible if all targets are met.