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Volkswagen to Invest $5 Billion in Rivian Automotive

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Volkswagen and Rivian Automotive Inc shall each hold a 50 stake in the joint venture and it shall be equally controlled. Volkswagen plans to invest up to 5 billion in electric vehicle startup Rivian starting with an initial investment of 1 billion.

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Volkswagen the German automaker said on Tuesday that it would invest up to 5 billion in Rivian a maker of electric.

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SAN FRANCISCO June 25 Reuters - German automaker Volkswagen Group VOWG_pDE will invest up to 5 billion in US.

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Rivian and Volkswagen Group are forming a joint venture to create vehicle software the two companies announced Tuesday..