Volkswagen Invests $5 Billion in Rivian

A new report from Car & Driver notes that Volkswagen has invested over $5 billion in automaker Rivian. The new investment comes as the companies partner for upcoming electric vehicle production.

The initial investment comes in the form of $1 billion, with the remaining $4 billion to be provided through 2026.

If approved, the partnership would provide immediate software access to Volkswagen. Both teams have been working to ensure the software technology could be accessed and utilized by the VW lineup.

Read the full report from Car & Driver here.