Rivian Automotive (RIVN) Partnership summary

Opening remarks and agenda

• The call was opened by the Vice President of Investor Relations, introducing the management team and outlining the focus on a proposed joint venture with Volkswagen Group, including expected investments and partnership benefits.

Objectives of the partnership

• The partnership aims to form an equally controlled joint venture focused on next-generation software and electrical architecture, leveraging Rivian's technology and Volkswagen's scale to accelerate electrification and expand market reach.

• The deal is expected to provide $5 billion in capital, supporting future growth and a robust capital roadmap.

Partner introductions and roles

• Governance will be balanced with two co-CEOs; Rivian appoints technical leadership, Volkswagen Group appoints the COO.

• Volkswagen Group brings global scale, a broad portfolio, and deep market knowledge, while Rivian contributes a vertically integrated technology platform and proven software stack.

• Both companies will continue to independently manage their respective vehicle businesses.