Federal Cartel Office gives green light for VW's entry into Rivian
Volkswagen has received the green light from the Federal Cartel Office for the planned entry into the US electric car manufacturer Rivian.
Merger Approved under Antitrust Laws
The joint venture planned by the two companies and VW's minority stake in Rivian have been approved under antitrust laws, the authority in Berlin announced.
"There is no reason for concern due to the project here, nor are there any significant competition problems to be feared elsewhere," said the President of the Federal Cartel Office, Andreas Mundt, according to the announcement.
Partnership to Boost the Group's Software Development
The cooperation announced at the end of June focuses on software, control computers, and network architecture. New VW cars are expected to adopt Rivian's technology and software in the second half of the decade.
VW has been struggling with in-house software development issues for electric vehicles for years, causing delays in model launches. The partnership aims to accelerate the group's software development. Europe's largest automaker plans to spend up to five billion dollars on the project.
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