Welcome back to Evie News Daily and welcome back to a special bonus edition of the podcast.

Now, recently Rivian and Volkswagen announced a partnership that could define both their EV futures.

They launched a groundbreaking joint venture and the business is called Rivian and VW Group Technology LLC.

Catchy. But let's have a look at what it really means for both companies in the EV industry itself.

Well, the business partnership marks a significant milestone in the EV industry with a total deal size of $5.8 billion.

And it's notable because it combines one of the most highly regarded startups, although review had been around a long time,

and also one of the established names, formerly the biggest automaker in the world, but certainly

in Europe Volkswagen Group. The collaboration aims to leverage the strengths of both companies,

to fix each other's weaknesses. It could be defining not only for them,

but also for the industry. They say the union will drive innovation, scale and cost efficiency

in EV production. Today on a bonus edition of the podcast, we'll look into what it really means

and maybe other deals could be forthcoming if this one is a big success.

And ultimately, what does it mean for the vehicles that you and I want to buy, maybe want to

buy from each individual company?

Well, we'll start off with having a look at what various people said, the CEO of Rivie

and R.J. Scarr, said, and I quote,

today's finalisation of our joint venture with Rivian, with Volkswagen Group, marks an important

step forward in helping transition the world to electric vehicles. We're thrilled to see our

technology being integrated in vehicles outside of Rivium, and we're excited for the future, end quote.

Volkswagen Group CEO Oliver Bloom, well, he highlighted the strategic importance of the partnership,

saying, and I quote, the partnership will with Rivian is the next logical step in our software strategy.

With its implementation, we'll strengthen our global competitive

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