Explainer-What’s behind Volkswagen’s $5 billion EV software bet on Rivian?

Source: finance.yahoo.com finance.yahoo.com

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BERLIN/FRANKFURT (Reuters) - Volkswagen, Europe's biggest carmaker, plans to spend as much as $5 billion on an electric vehicle (EV) software partnership with U.S.-based Rivian. Here are some of the key issues around the deal: WHY IS VOLKSWAGEN DOING THIS? The tie-up is the latest in a string of deals by Volkswagen Chief Executive Oliver Blume, who took over in September 2022 after the ousting of Herbert Diess. Shifting from combustion engine to electric cars requires expertise in areas where historically Volkswagen has little experience, from charging to batteries to software. Diess set up software unit Cariad in 2020, hoping...