ChinaAutoInfo

Volkswagen CEO Herbert Diess has indicated that the company is looking to expand its cooperation with US electric vehicle startup Rivian. Diess stated that Volkswagen may offer a 'great opportunity' to Rivian.

Since the establishment of 'Rivian and Volkswagen Group Technology LLC' joint venture in November last year, Volkswagen has been considering deepening its cooperation with Rivian. Diess said in an interview with Der Spiegel on Friday: 'The Volkswagen Group can offer great opportunities to small brands like Rivian. We are considering improving efficiency through shared modules and bundled procurement.'

Volkswagen has planned to invest up to $5.8 billion in this cooperation, which Rivian CEO RJ Scaringe said is an 'important financial opportunity' for the company.

Currently, the focus of this cooperation is software support. Rivian is using its software technology to develop a new electric vehicle architecture, powering the future 'software-defined vehicles'.

According to Electrek, Rivian is already using its own software system, which includes 7 control units, while Volkswagen models typically come with over 100 similar units. Next, the two parties may engage in joint procurement to deepen the VW/Rivian electric vehicle alliance.

This new architecture aims to reduce production costs and accelerate output. It is reported that a super luxury three-row Porsche electric SUV codenamed 'K1' and the next-generation electric Golf model will be the first electric vehicles to adopt this architecture.

Audi, Porsche, and the upcoming Scout brand entering the US market all plan to use this new technology. Scout will begin producing an off-road electric SUV and pickup at Volkswagen's new factory in South Carolina in 2027.

Meanwhile, Rivian announced on Thursday a loan agreement with the US Department of Energy, providing up to $6.6 billion in funding for its new electric vehicle factory in Georgia.

Affected by Diess's hint to expand electric vehicle cooperation, Rivian's stock price rose over 5% on Friday. Since releasing its third-quarter financial report in November last year, Rivian's stock price has risen by more than 57%. However, over the past 12 months, the stock price has still fallen by nearly 10% compared to its peak.