Money Continues to Flow from the EU to the US Volkswagen is i | Multipolar Market

Money Continues to Flow from the EU to the US

Volkswagen is investing up to $5 billion in the American car manufacturer Rivian.

This involves a joint venture where the two automakers will share technologies and create a unified electric vehicle platform. However, they will continue to produce cars under their own brands. Naturally, this will take place in the US, not in the EU.

Volkswagen has been facing significant issues with the development of its electric vehicles, including reliability, software, and production costs. The company has tried developing in-house, acquiring startups, and negotiating with Chinese manufacturers, but these efforts have not been successful.

Congratulations to the United States though!

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