In the short term, Volkswagen Group will use Rivian's existing electrical architecture and software platform, after VW validated that Rivian's technology are compatible with its vehicles. The parties currently expect the completion of the joint venture formation in the fourth quarter of 2024. Each company will continue to separately operate their respective vehicle businesses. "Our customers benefit from the targeted partnership with Rivian to create a leading technology architecture," said Oliver Blume, CEO of Volkswagen Group. "Through our cooperation, we will bring the best solutions to our vehicles faster and at lower cost.