Volkswagen (VWAGY)-backed Scout Motors will employ the software and zonal architecture “being developed by the joint venture between Rivian (RIVN) and the Volkswagen Group, writes Sean O’Kane for Tech Crunch. At Disrupt 2024, Rivian Chief Software Officer Wassym Bensaid told TC that the JV technology will be leveraged when vehicles go into production in 2027. VW and Rivian hope to close the $5B deal by year-end 2024, Tech Crunch said. The Fly notes that Scout Motors is owned by German manufacturer Volkswagen Group.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VWAGY:
- VW wants workforce to take 10% pay cuts, Reuters reports
- Volkswagen sees 2024 group revenue around EUR 320B vs. EUR 322.3B last year
- Volkswagen reports Q3 revenue EUR 78.5B vs. EUR 78.8B last year
- VW works council head says company to shutter three Germany plants, Reuters says
- Volkswagen weighs wage cuts, bonus reductions, Reuters reports