Cloaked Audis, covert CEO meeting: How VW's $5 bn Rivian bet transpired

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Cloaked Audis, covert CEO meeting: How VW's $5 bn Rivian bet transpired - Business Standard

Quick Summary:

A few camouflaged Audis arrived secretly from Germany early this year at a facility of electric vehicle (EV) maker Rivian in California, where some 30 engineers stripped the electronics and fitted them with the US startup's harnesses and modules.

For Scaringe, who grew up as a Porsche enthusiast and restored classic 356s, it was a natural fit."To be able to see a Porsche on the road that has our technology in them, I couldn't be more excited," he said.

Certainty on the deal came after Rivian ran tests on the Audis in Palo Alto, which arrived in the first quarter of the year, leading to financial talks over the past couple of months, one source said.