Volkswagen and Rivian Automotive to form a joint venture in a $5.8bn deal.

Volkswagen, an automotive company, and Rivian Automotive, an American electric vehicle manufacturer, agreed to form a joint venture in a $5.8bn deal. Volkswagen resolves on investment by Volkswagen of initially $1bn in Rivian Automotive, and intends to establish a joint venture with Rivian Automotive, in the area of E/E architecture. Total investments from Volkswagen in Rivian Automotive, and the joint venture could grow to up to $5bn until 2026.