Rivian shares surge after Volkswagen agrees to $5bn investment
by Guardian staff and agencies from US news | The Guardian on (#6NS8R)
New, equally controlled joint venture will share electric vehicle architecture and software, companies said
Shares in Rivian surged after Volkswagen agreed to invest up to $5bn in the Amazon-backed electric carmaker.
Volkswagen will initially invest $1bn as part of a partnership with Rivian to form a new, equally controlled joint venture to share electric vehicle architecture and software, the companies said on Tuesday.
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