The companies said the deal is now up to $5.8 billion, with the first VW models to use Rivian's software and electrical architecture arriving as early as 2027.

Shares of Rivian jumped over 15% after the EV maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture.

Electric vehicle manufacturer Rivian Automotive and the Volkswagen Group are partnering up in a nearly $6 billion deal to create a new technology company.

Analysts see the joint venture between VW and Rivian as shoring up many concerns about the U.S. EV maker's challenges.

Rivian and Volkswagen Group have finalized a multi-billion-dollar joint venture to develop software, paving the way to let the German auto giant leverage the EV startup's more technical chops in the coming years.

Rivian Automotive shares soared Wednesday, a day after the electric vehicle manufacturer expanded its partnership with Volkswagen in a move aimed at helping both firms find ways to grab more of the market for EVs.

Volkswagen’s new commitment to their deal with Rivian is a hit on Wall Street. Rivian stocks jumped Wednesday afternoon after their announced an expansion of their partnership with Volkswagen. VW is investing in their attempts to build EVs in Georgia.

Shares of Rivian jumped over 13% in premarket trading Wednesday after the electric vehicle maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture. The investment boost comes at a crucial time for Rivian,

Volkswagen will invest up to $5.8 billion in Rivian stock and a joint venture—up from a $5 billion deal value envisaged when the collaboration was announced in June. Rivian stoc