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srcset="https://static.dw.com/image/66712935_800.webp 50w, https://static.dw.com/image/66712935_801.webp 129w, https://static.dw.com/image/66712935_802.webp 352w, https://static.dw.com/image/66712935_803.webp 575w" media="(min-width: 0px) and (max-width: 575px)" height="100" width="100"/><source type="image/webp" srcset="https://static.dw.com/image/66712935_600.webp 78w, https://static.dw.com/image/66712935_601.webp 201w, https://static.dw.com/image/66712935_602.webp 379w, https://static.dw.com/image/66712935_603.webp 545w, https://static.dw.com/image/66712935_604.webp 767w, https://static.dw.com/image/66712935_605.webp 1199w" media="(min-width: 576px) and (max-width: 991px)" height="56.25" width="100"/><source type="image/webp" srcset="https://static.dw.com/image/66712935_1000.webp 80w, https://static.dw.com/image/66712935_1001.webp 576w, https://static.dw.com/image/66712935_1002.webp 768w, https://static.dw.com/image/66712935_1003.webp 992w, https://static.dw.com/image/66712935_1004.webp 1200w" media="(min-width: 992px) " height="43.75" width="100"/><source type="image/jpeg" srcset="https://static.dw.com/image/66712935_800.jpg 50w, https://static.dw.com/image/66712935_801.jpg 129w, https://static.dw.com/image/66712935_802.jpg 352w, https://static.dw.com/image/66712935_803.jpg 575w" media="(min-width: 0px) and (max-width: 575px)" height="100" width="100"/><source type="image/jpeg" srcset="https://static.dw.com/image/66712935_600.jpg 78w, https://static.dw.com/image/66712935_601.jpg 201w, https://static.dw.com/image/66712935_602.jpg 379w, https://static.dw.com/image/66712935_603.jpg 545w, https://static.dw.com/image/66712935_604.jpg 767w, https://static.dw.com/image/66712935_605.jpg 1199w" media="(min-width: 576px) and (max-width: 991px)" height="56.25" width="100"/><source type="image/jpeg" srcset="https://static.dw.com/image/66712935_1000.jpg 80w, https://static.dw.com/image/66712935_1001.jpg 576w, https://static.dw.com/image/66712935_1002.jpg 768w, https://static.dw.com/image/66712935_1003.jpg 992w, https://static.dw.com/image/66712935_1004.jpg 1200w" media="(min-width: 992px) " height="43.75" width="100"/><img fetchpriority="high" src srcset="https://static.dw.com/image/66712935_600.jpg 78w, https://static.dw.com/image/66712935_601.jpg 201w, https://static.dw.com/image/66712935_602.jpg 379w, https://static.dw.com/image/66712935_603.jpg 545w, https://static.dw.com/image/66712935_604.jpg 767w, https://static.dw.com/image/66712935_605.jpg 1199w" width="100" height="56.25" title="VW electric vehicle production line at the Zwickau factory " alt="VW electric vehicle production line at the Zwickau factory "/></picture><figcaption class="c1oedowi t1b9cajp r1wgtjne wgx1hx2 b1ho1h07">Volkswagen will begin building electric cars using technology developed by US carmaker Rivian <small class="copyright c19ed66t ihwmx5 iz19q57 icns9en t14k9lqz r1wgtjne wgx1hx2 b1ho1h07">Image: Sean Gallup/Getty Images</small></figcaption></figure><span></span><div class="a1amioo0 cl16rh cl16rh rdrhdio hh5424a advertisement"><span class="label-top icns9en ixvat6c bmcvy6l wgx1hx2 b1ho1h07">Advertisement</span><div id="dw_m_article_top" class="gpt-slot"></div><div id="dw_t_article_top" class="gpt-slot"></div><div id="dw_d_article_top" class="gpt-slot"></div></div><div class="cc0m0op s1ebneao rich-text t1it8i9i r1wgtjne wgx1hx2 b1ho1h07"><p>Embattled German car manufacturer <a class="internal-link" href="/en/volkswagens-crisis/t-17448835">Volkswagen</a> has launched a <a class="internal-link" href="/en/vw-splashes-5-billion-in-joint-venture-with-rivian/a-69475135">joint venture with US electric vehicle manufacturer Rivian</a>.</p> <p>The venture is valued $5.8 billion (€5.46 billion) of total investment.</p> <p>The partnership is expected to build on Rivian's advanced software and electric vehicle technology, with the first models expected started in 2027, VW Group CEO Oliver Blume said at the launch of the joint venture on Tuesday in Palo Alto, California.</p> <p>Blume said the 2027 rollout would begin with Volkswagen and would be followed by Audi, Scout, Porsche, and other brands.</p> <p>In June, the companies announced the intention to embark on a joint venture with a view to creating "next generation software-defined (SDV) platforms” which would be used in both companies' electric vehicles.</p> <p>The new joint venture is set to begin operations on Wednesday, and will be based in Palo Alto, with other locations planned for Europe and North America.</p><div class="vjs-wrapper embed big"><h2 aria-label="Embedded video — Is the EV dream dead?" class="headline"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20"><g fill-rule="evenodd"><path d="M14.114 7.599H13.5l.002 4.706h.601l4.582 3.25-.005-11.11zM11.084 4.444l-9.007.002-1.336.797.002 9.514 1.334.793 9.007.006 1.509-.799-.004-9.516z" /></g></svg>Is the EV dream dead?</h2><video id="video-68903342" controls playsInline="" preload="none" poster="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-id="68903342" data-posterurl="https://static.dw.com/image/68836952_605.webp" data-duration="15:56"><source src="https://hlsvod.dw.com/i/dwtv_video/flv/dri/dri20240424_DreamOverNEW_,AVC_480x270,AVC_512x288,AVC_640x360,AVC_960x540,AVC_1280x720,AVC_1920x1080,.mp4.csmil/master.m3u8" type="application/x-mpegURL"><source src="https://tvdownloaddw-a.akamaihd.net/dwtv_video/flv/dri/dri20240424_DreamOverNEW_AVC_1920x1080.mp4" type="video/mp4"><track src="https://www.dw.com/media/subtitles/70664348" srclang="en" label="ENGLISH" default><p class="vjs-no-js">To view this video please enable JavaScript, and consider upgrading to a web browser that <a href="https://videojs.com/html5-video-support/" target="_blank">supports HTML5 video</a></p></video></div> <h2>Challenges facing both companies</h2> <p>The deal offers an important financial shot in the arm for Rivian, with the company operating at a loss due to a decreased US appetite for <a class="internal-link" href="/en/electric-vehicles/t-18951760">electric vehicles</a>.</p> <p>Rivian was founded in 2009 and specialize in large SUVs and pickups which are popular choices in the US market.</p> <p>In the last quarter, Rivian reported a $392 million loss against $874 million in revenue, despite delivering around 10,000 vehicles.</p> <p>VW in the same period, managed nearly 2.2 million vehicle deliveries generating €78.5 billion ($83.3 billion) in revenue and securing a €1.58 billion profit after taxes, representing <a class="internal-link" href="/en/volkswagen-and-workers-clash-over-layoffs-as-profits-plummet/a-70638262">a net profit loss, year-on-year.</a></p> <p><a class="internal-link" href="/en/vw-crisis-german-carmaker-to-scrap-three-plants-and-thousands-of-jobs/a-70425198">VW is in the midst of a sales and cost crisis</a> and says it needs to close factories in Germany and layoff thousands of staff and finds itself among the European carmakers facing increased competition from cheaper Chinese electric cars.</p> <p>VW has also has been plagued by problems with its own software development company CARIAD, forcing its subsidiaries Audi and Porsche to delay the introduction of new EVs by as much as two years, according to the German business daily <em>Handelsblatt.</em></p> <div class="vjs-wrapper embed big"><h2 aria-label="Embedded video — Volkswagen in crisis: Why is the German carmaker struggling?" class="headline"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20"><g fill-rule="evenodd"><path d="M14.114 7.599H13.5l.002 4.706h.601l4.582 3.25-.005-11.11zM11.084 4.444l-9.007.002-1.336.797.002 9.514 1.334.793 9.007.006 1.509-.799-.004-9.516z" /></g></svg>Volkswagen in crisis: Why is the German carmaker struggling?</h2><video id="video-70644702" controls playsInline="" preload="none" poster="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-id="70644702" data-posterurl="https://static.dw.com/image/70570943_605.webp" data-duration="02:02"><source src="https://hlsvod.dw.com/i/dwtv_video/flv/je/je20241030_VW17c_,AVC_480x270,AVC_512x288,AVC_640x360,AVC_960x540,AVC_1280x720,AVC_1920x1080,.mp4.csmil/master.m3u8" type="application/x-mpegURL"><source src="https://tvdownloaddw-a.akamaihd.net/dwtv_video/flv/je/je20241030_VW17c_AVC_1920x1080.mp4" type="video/mp4"><track src="https://www.dw.com/media/subtitles/70753132" srclang="en" label="ENGLISH" default><p class="vjs-no-js">To view this video please enable JavaScript, and consider upgrading to a web browser that <a href="https://videojs.com/html5-video-support/" target="_blank">supports HTML5 video</a></p></video></div> <p>kb/wmr (dpa, AFP)</p> </div><footer class="s1jc41xr"><div class="feedback"><div class="sp605kw center"><div role="button" 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class="external-image skn0ibm"><img src alt="external"/></figure></a><div class="teaser-data-xs-sm"><h3 aria-hidden="false" class="title-xs-sm sf4wccd title"><a href="/en/profits-plunge-at-volkswagen/video-70644761" tabindex="0" aria-label="Video — Profits plunge at Volkswagen" class="lap31d1 l1amv4u6 btl76l3 e1eo633p wgx1hx2 b1ho1h07"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" class="msqjlax snsfknj"><g fill-rule="evenodd"><path d="M14.114 7.599H13.5l.002 4.706h.601l4.582 3.25-.005-11.11zM11.084 4.444l-9.007.002-1.336.797.002 9.514 1.334.793 9.007.006 1.509-.799-.004-9.516z"></path></g></svg>Profits plunge at Volkswagen</a></h3></div></div><div class="teaser-data-wrap col-12"><div class="teaser-data"><h3 aria-hidden="false" class="title-above-md sf4wccd title"><a href="/en/profits-plunge-at-volkswagen/video-70644761" tabindex="0" aria-label="Video — Profits plunge at Volkswagen" class="lap31d1 l1amv4u6 btl76l3 e1eo633p wgx1hx2 b1ho1h07"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" class="msqjlax snsfknj"><g fill-rule="evenodd"><path d="M14.114 7.599H13.5l.002 4.706h.601l4.582 3.25-.005-11.11zM11.084 4.444l-9.007.002-1.336.797.002 9.514 1.334.793 9.007.006 1.509-.799-.004-9.516z"></path></g></svg>Profits plunge at Volkswagen</a></h3><div class="d-none d-md-block s6kxfng teaser-description t1it8i9i r1wgtjne wgx1hx2 b1ho1h07"><a href="/en/profits-plunge-at-volkswagen/video-70644761" tabindex="-1" class="l1j5qt2f b1ho1h07">Germany's largest carmaker, Volkswagen, has reported a sharp drop in profits last quarter, adding to a mounting list of woes, including high labor costs and stiff competition from Chinese automakers. But what are the workers’ concerns and expectations? DW’s Marie Sina reports from VW's headquarters in Germany.</a></div></div><div class="s16l2fqg teaser-footer-wrapper s1teu0c4"><span class="kicker icns9en t14k9lqz r1wgtjne wgx1hx2 b1ho1h07">Business</span><span class="date-time icns9en t14k9lqz r1wgtjne wgx1hx2 b1ho1h07"><time aria-hidden="true">10/30/2024</time><span class="sr-only s28j2rd">October 30, 2024</span></span><span class="icns9en t14k9lqz r1wgtjne wgx1hx2 b1ho1h07">03:35 min</span></div></div></div></div></div></div></div><div id="post-more-on-topic" class="quick-item-target s4wvt8f"></div></section><section id="related-topics" data-tracking-name="section-related-topics" class="hh5424a s1vz34wi stfzu66"><a href="#post-related-topics" class="quick-item s1knotlb"><span class="hr9hvkd hb7nbxk seipclg b1ho1h07">Skip next section Related topics</span><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 20 20" class="s1ly0d8v"><g fill="none" fill-rule="evenodd" stroke="#002D5A" stroke-width="2"><path d="M4 9L4 16 11 16" 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German automotive giant said that it was committing to a $5.8 billion investment to boost its transition to electric vehicles in cooperation with US EV-maker Rivian.","priority":"HIGH","contentDate":"2024-11-13T10:16:28.984Z","localizedContentDateSr":"November 13, 2024","localizedFirstPublicationDate":"11/13/2024","localizedFirstPublicationDateSr":"November 13, 2024","contentDateMode":"LAST_PUBLICATION_DATE","personAssociations":[],"legacyAuthor":"","thematicFocusCategory":{"name":"Cars and Transportation","__typename":"Category"},"firstRegionArray":[{"alignedName":"Germany","correspondingContent":{"namedUrl":"/en/germany/s-1432","__typename":"Navigation"},"__typename":"GeographicRegion"}],"kicker":"","isOpinion":false,"firstPersonArray":[],"genre":"NEWS","opinionSeries":[],"text":"\u003cp>Embattled German car manufacturer \u003ca class=\"internal-link\" href=\"/en/volkswagens-crisis/t-17448835\">Volkswagen\u003c/a> has launched a \u003ca class=\"internal-link\" href=\"/en/vw-splashes-5-billion-in-joint-venture-with-rivian/a-69475135\">joint venture with US electric vehicle manufacturer Rivian\u003c/a>.\u003c/p>\n\n\u003cp>The venture is valued $5.8 billion (€5.46 billion) of total investment.\u003c/p>\n\n\u003cp>The partnership is expected to build on Rivian's advanced software and electric vehicle technology, with the first models expected started in 2027, VW Group CEO Oliver Blume said at the launch of the joint venture on Tuesday in Palo Alto, California.\u003c/p>\n\n\u003cp>Blume said the 2027 rollout would begin with Volkswagen and would be followed by Audi, Scout, Porsche, and other brands.\u003c/p>\n\n\u003cp>In June, the companies announced the intention to embark on a joint venture with a view to creating \"next generation software-defined (SDV) platforms” which would be used in both companies' electric vehicles.\u003c/p>\n\n\u003cp>The new joint venture is set to begin operations on Wednesday, and will be based in Palo Alto, with other locations planned for Europe and North America.\u003c/p>\u003cdiv class=\"vjs-wrapper embed big\">\u003ch2 aria-label=\"Embedded video — Is the EV dream dead?\" class=\"headline\">\u003csvg xmlns=\"http://www.w3.org/2000/svg\" viewBox=\"0 0 20 20\">\u003cg fill-rule=\"evenodd\">\u003cpath d=\"M14.114 7.599H13.5l.002 4.706h.601l4.582 3.25-.005-11.11zM11.084 4.444l-9.007.002-1.336.797.002 9.514 1.334.793 9.007.006 1.509-.799-.004-9.516z\" />\u003c/g>\u003c/svg>Is the EV dream dead?\u003c/h2>\u003cvideo id=\"video-68903342\" controls playsInline=\"\" preload=\"none\" poster=\"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=\" data-id=\"68903342\" data-posterurl=\"https://static.dw.com/image/68836952_605.webp\" data-duration=\"15:56\">\u003csource src=\"https://hlsvod.dw.com/i/dwtv_video/flv/dri/dri20240424_DreamOverNEW_,AVC_480x270,AVC_512x288,AVC_640x360,AVC_960x540,AVC_1280x720,AVC_1920x1080,.mp4.csmil/master.m3u8\" type=\"application/x-mpegURL\">\u003csource src=\"https://tvdownloaddw-a.akamaihd.net/dwtv_video/flv/dri/dri20240424_DreamOverNEW_AVC_1920x1080.mp4\" type=\"video/mp4\">\u003ctrack src=\"https://www.dw.com/media/subtitles/70664348\" srclang=\"en\" label=\"ENGLISH\" default>\u003cp class=\"vjs-no-js\">To view this video please enable JavaScript, and consider upgrading to a web browser that \u003ca href=\"https://videojs.com/html5-video-support/\" target=\"_blank\">supports HTML5 video\u003c/a>\u003c/p>\u003c/video>\u003c/div>\n\n\u003ch2>Challenges facing both companies\u003c/h2>\n\n\u003cp>The deal offers an important financial shot in the arm for Rivian, with the company operating at a loss due to a decreased US appetite for \u003ca class=\"internal-link\" href=\"/en/electric-vehicles/t-18951760\">electric vehicles\u003c/a>.\u003c/p>\n\n\u003cp>Rivian was founded in 2009 and specialize in large SUVs and pickups which are popular choices in the US market.\u003c/p>\n\n\u003cp>In the last quarter, Rivian reported a $392 million loss against $874 million in revenue, despite delivering around 10,000 vehicles.\u003c/p>\n\n\u003cp>VW in the same period, managed nearly 2.2 million vehicle deliveries generating €78.5 billion ($83.3 billion) in revenue and securing a €1.58 billion profit after taxes, representing \u003ca class=\"internal-link\" href=\"/en/volkswagen-and-workers-clash-over-layoffs-as-profits-plummet/a-70638262\">a net profit loss, year-on-year.\u003c/a>\u003c/p>\n\n\u003cp>\u003ca class=\"internal-link\" href=\"/en/vw-crisis-german-carmaker-to-scrap-three-plants-and-thousands-of-jobs/a-70425198\">VW is in the midst of a sales and cost crisis\u003c/a> and says it needs to close factories in Germany and layoff thousands of staff and finds itself among the European carmakers facing increased competition from cheaper Chinese electric cars.\u003c/p>\n\n\u003cp>VW has also has been plagued by problems with its own software development company CARIAD, forcing its subsidiaries Audi and Porsche to delay the introduction of new EVs by as much as two years, according to the German business daily \u003cem>Handelsblatt.\u003c/em>\u003c/p>\n\n\u003cdiv class=\"vjs-wrapper embed big\">\u003ch2 aria-label=\"Embedded video — Volkswagen in crisis: Why is the German carmaker struggling?\" class=\"headline\">\u003csvg xmlns=\"http://www.w3.org/2000/svg\" viewBox=\"0 0 20 20\">\u003cg fill-rule=\"evenodd\">\u003cpath d=\"M14.114 7.599H13.5l.002 4.706h.601l4.582 3.25-.005-11.11zM11.084 4.444l-9.007.002-1.336.797.002 9.514 1.334.793 9.007.006 1.509-.799-.004-9.516z\" />\u003c/g>\u003c/svg>Volkswagen in crisis: Why is the German carmaker struggling?\u003c/h2>\u003cvideo id=\"video-70644702\" controls playsInline=\"\" preload=\"none\" poster=\"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=\" data-id=\"70644702\" data-posterurl=\"https://static.dw.com/image/70570943_605.webp\" data-duration=\"02:02\">\u003csource src=\"https://hlsvod.dw.com/i/dwtv_video/flv/je/je20241030_VW17c_,AVC_480x270,AVC_512x288,AVC_640x360,AVC_960x540,AVC_1280x720,AVC_1920x1080,.mp4.csmil/master.m3u8\" type=\"application/x-mpegURL\">\u003csource src=\"https://tvdownloaddw-a.akamaihd.net/dwtv_video/flv/je/je20241030_VW17c_AVC_1920x1080.mp4\" type=\"video/mp4\">\u003ctrack src=\"https://www.dw.com/media/subtitles/70753132\" srclang=\"en\" label=\"ENGLISH\" default>\u003cp class=\"vjs-no-js\">To view this video please enable JavaScript, and consider upgrading to a web browser that \u003ca href=\"https://videojs.com/html5-video-support/\" target=\"_blank\">supports HTML5 video\u003c/a>\u003c/p>\u003c/video>\u003c/div>\n\n\u003cp>kb/wmr (dpa, AFP)\u003c/p>\n","contentLinks":[{"targetId":66712935,"isInText":false,"__typename":"ContentLink","targetType":"IMAGE","name":"","description":"Volkswagen will begin building electric cars using technology developed by US carmaker Rivian 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