Summary
- Rivian and Volkswagen will initially focus on producing the Golf EV through a $5.8 billion joint venture
- The joint venture aims to get Volkswagen’s flagship electric car, Trinity, into production
- Volkswagen has increased its budget to electrify existing European production plants under Project Trinity
- Trinity is not a single EV, but rather a lineup of new electric vehicles envisioned by Volkswagen
- Volkswagen’s new Trinity factory in Wolfsburg Warmenau is slated to produce an all-electric sports sedan by 2026, incorporating Tesla-style megacasts and aiming for 20-30% automation
Article
Rivian and Volkswagen have entered into a joint venture worth $5.8 billion, with the primary focus on producing the Golf EV initially. However, the most significant achievement of this collaboration may be bringing VW’s flagship electric car, Project Trinity, into production. Volkswagen had increased its budget for Project Trinity in 2021, aiming to electrify its existing European production plants and establish a new lineup of electric vehicles.
Project Trinity was not a single electric vehicle but rather Volkswagen’s vision for a new range of EVs. The company expected that by 2026, one-fourth of the vehicles it sold would have a battery-electric drive system. The Volkswagen Group’s Supervisory Board approved the construction of the ~$2 billion Trinity factory in Wolfsburg Warmenau, marking a significant step towards the production of an all-electric sports sedan under the Trinity name.
VW had plans to implement Tesla-style megacasts and achieve 20%-30% automation at the Trinity factory, with production of the electric sports sedan anticipated to start by 2026. However, after Herbert Diess, a key figure in VW’s EV transition, left the company, internal documents hinted at a potential reconsideration of the factory’s construction. The Trinity factory project had come to a halt since 2022, but the joint venture with Rivian is expected to revitalize the project and push it forward.
Thomas Schaefer, the CEO of Volkswagen Passenger Cars, highlighted the role of partnerships in accelerating development and entering new market spaces more quickly. The collaboration with Rivian is seen as an opportunity to breathe new life into the stalled Trinity factory project and expedite the production of electric vehicles. With the partnership in place, Volkswagen is poised to benefit from Rivian’s expertise and technology in the production of electric vehicles, potentially paving the way for further advancements in the field of electric mobility.
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