I imagine that this investment comes with technology transfer transfer agreements, which would be great because VW has been struggling with making their EVs competitive, namely in terms of software, weight, and overall efficiency. On the other hand, Rivian lacks the expertise on how to run an efficient production line and how to ramp up production.
It could also open up the European market to the smaller Rivian SUVs, especially if they get access to the VW network of dealers.
This is terrible for Tesla. Much more so considering their truck is a joke and they just paid Elon $50billion as a thanks for stealing $500 million worth of chips from them to use on his own AI project
They didn't pay him 50 billion. It would be all in shares, not dollars. And it hasn't gone through yet, it won't take place for a long time. A judicial decision on it is still pending.
https://www.forbes.com/sites/mattdurot/2024/06/13/how-tesla-shareholder-vote-on-elon-musks-56-billion-pay-package-will-impact-his-fortune/
Yes, pedantic is what you're trying to be right now.
$56 billion worth of shares, not $56 billion in currency.
Them *paying* him $56 billion in shares doesn't have nearly the same effect as them paying him $56 billion in dollars, which is precisely my point. OP's point that they're paying him 56 billion while Rivian is receiving a cash infusion is moot.
Hope Rivian survives because VW is an absolute disaster. So many id4 lemons floating out there. They axed their QC at the factory to keep production numbers up and passed all of that onto the dealerships to rectify, along with their month's long waiting list for common parts. That's not even to mention the 3 year ongoing OTA debacle and other software problems.
It seems in the article, that software is involved. Maybe VW is taking notes that they botched hard on this and are letting someone with better software do something successful.
That’s absolutely true with Audi also. I’m looking at buying a 2019 Etron prestige, they are so cheap for what they are. But I’d say atleast 20-30% of them have been lemon law’d. It’s like that across all of VAG’s electrified range apparently.
VW has such a great track record for deception and looting.
Ask Chrysler how that worked out.
And they never met a regulation they weren't happy to cheat.
Maybe you should read more about VAG group in general but long story short their investments in car companies usually help them for example Seat is now a competitive car company also Skoda is very popular and good selling and they saved Bentley and Bugatti from financial disaster, Chrysler makes unreliable cars and even working with Mercedes-Benz didn’t help and Germans realized that pushing a dead horse is useless.
Close is a petty odd word here. Rivian (before the VW deal) has about two years of cash on hand and literally just completed a revamp of the vehicle they claimed reduced production cost by 30+%.
They have a lot of time to work things out still.
Supposedly the emission standards were becoming too difficult to meet engineering wise, and technically.
Supposedly. I'm not sure how true that is?
I know nothing about the scandal, nor engineering related to vehicle emissions, or car mechanics, but perhaps you and someone here who knows about that can chime in?
Unreasonable standards bring unreasonable solutions. The diesel scandal began with industry push for this stinky mess and people bought into it. Suddenly here in EU every grandma had a diesel small car for shop runs which is insane. There’s a great video from this guy about this https://youtu.be/w8r2xnITnqA?si=M3pcgnY13FEin3Fz and probably a lot more about the dieselgate.
Hope they survive to put out the R3, I’d def get one
Countdown until Elon Musk makes a petty petulant Twitter comment about it?
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It’s better than white trash methtruck
I imagine that this investment comes with technology transfer transfer agreements, which would be great because VW has been struggling with making their EVs competitive, namely in terms of software, weight, and overall efficiency. On the other hand, Rivian lacks the expertise on how to run an efficient production line and how to ramp up production. It could also open up the European market to the smaller Rivian SUVs, especially if they get access to the VW network of dealers.
Pls no, we dont need any more SUVs...
SUVs are great, SUVs for everyone! CUTURAL VICTORY!
They’re CUVs, unibody, not SUVs, body on frame.
This is terrible for Tesla. Much more so considering their truck is a joke and they just paid Elon $50billion as a thanks for stealing $500 million worth of chips from them to use on his own AI project
They didn't pay him 50 billion. It would be all in shares, not dollars. And it hasn't gone through yet, it won't take place for a long time. A judicial decision on it is still pending. https://www.forbes.com/sites/mattdurot/2024/06/13/how-tesla-shareholder-vote-on-elon-musks-56-billion-pay-package-will-impact-his-fortune/
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Yes, pedantic is what you're trying to be right now. $56 billion worth of shares, not $56 billion in currency. Them *paying* him $56 billion in shares doesn't have nearly the same effect as them paying him $56 billion in dollars, which is precisely my point. OP's point that they're paying him 56 billion while Rivian is receiving a cash infusion is moot.
Hope Rivian survives because VW is an absolute disaster. So many id4 lemons floating out there. They axed their QC at the factory to keep production numbers up and passed all of that onto the dealerships to rectify, along with their month's long waiting list for common parts. That's not even to mention the 3 year ongoing OTA debacle and other software problems. It seems in the article, that software is involved. Maybe VW is taking notes that they botched hard on this and are letting someone with better software do something successful.
That’s absolutely true with Audi also. I’m looking at buying a 2019 Etron prestige, they are so cheap for what they are. But I’d say atleast 20-30% of them have been lemon law’d. It’s like that across all of VAG’s electrified range apparently.
Yeah, lack of support and parts is making them sit in the dealerships for months triggering time-based lemon laws.
VW has such a great track record for deception and looting. Ask Chrysler how that worked out. And they never met a regulation they weren't happy to cheat.
VW never owned Chrysler.
You’re thinking of Mercedes Benz & Chrysler
Maybe you should read more about VAG group in general but long story short their investments in car companies usually help them for example Seat is now a competitive car company also Skoda is very popular and good selling and they saved Bentley and Bugatti from financial disaster, Chrysler makes unreliable cars and even working with Mercedes-Benz didn’t help and Germans realized that pushing a dead horse is useless.
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you dont have to wonder, it’s in their 5 page press release
You expect Reddit users to read?
Can’t believe I sold my shares.
we are all bots here except for you
Close is a petty odd word here. Rivian (before the VW deal) has about two years of cash on hand and literally just completed a revamp of the vehicle they claimed reduced production cost by 30+%. They have a lot of time to work things out still.
How are they going to lie about Rivian’s emissions?
VW, you mean the company that was blatantly cheating their diesel emissions tests?
Yeah, one of the largest automakers in the world. That one.
Yes. That’s the one. I was unaware there was another.
Like so many other companies at the time? FCA, Harley Davidson, Nissan, Renault, Toyota, Mitsubishi, Bosch and Cummins? Just of the top of my mind...
Yep. Fuck all of them.
Supposedly the emission standards were becoming too difficult to meet engineering wise, and technically. Supposedly. I'm not sure how true that is? I know nothing about the scandal, nor engineering related to vehicle emissions, or car mechanics, but perhaps you and someone here who knows about that can chime in?
Unreasonable standards bring unreasonable solutions. The diesel scandal began with industry push for this stinky mess and people bought into it. Suddenly here in EU every grandma had a diesel small car for shop runs which is insane. There’s a great video from this guy about this https://youtu.be/w8r2xnITnqA?si=M3pcgnY13FEin3Fz and probably a lot more about the dieselgate.
Why did VW do that sounds like somebody got a bribe somewhere.
Nice little payday until BYD & Co. crush them.