Volkswagen (VWAGY.US) partners with Rivian (RIVN.US) to open up new revenue streams! Intends to license electric vehicle technology to external parties.

Zhitan Finance and Economics APP learned that Volkswagen Group (VWAGY.US) and Rivian Automotive (RIVN.US) plan to sell the electric vehicle technology they jointly developed to other car manufacturers in the future. Their joint venture, named RV Tech, stated that they have made solid progress in providing Volkswagen with electric vehicle electrical and software platforms to compete with Tesla (TSLA.US) and Chinese rivals. The joint venture is currently focused on developing models for Rivian and Volkswagen, but also communicates with third parties about the scalability of its platform.