German car maker VW to invest up to $5bn in Tesla rival Rivian
What was China's response to the EU's tariff plans?
China's Commerce Ministry accused the EU of making unreasonable demands in its investigation into imports of Chinese electric vehicles and described the EU's investigation as "protectionism" that violated international trade rules.
What is the purpose of the joint venture between VW and Rivian?
The joint venture between VW and Rivian aims to create vehicle software, allowing both companies to share technology and benefit from mutual expertise. VW will invest a total of $5 billion into Rivian as part of the arrangement, including a $1 billion immediate investment. The joint venture will focus on integrating infotainment, wireless connectivity, and autonomous driving functions, among other things. Rivian's software and hardware designs will be the foundation for the new software platform the companies will share.
Why is Canada considering aligning tariffs with its allies?
Canada is considering aligning tariffs with its allies, such as the US and the EU, to counter China's "state-directed policy of overcapacity" in the electric vehicle (EV) market. This move aims to protect domestic industries and jobs, as well as to address national security concerns related to EV technology and data privacy.