VW to invest up to $5B into Rivian in software deal

VW Group will invest $1 billion into EV startup Rivian as part of a software development deal that could expand to as much as $5 billion.The deal, which was announced Tuesday afternoon, sent Rivian’s shares up more than 36% in after-hours trading. The two companies will create a joint venture focused on next-generation electrical architecture and software technology. Under the deal, VW Group will use Rivian’s existing electrical architecture and software platform. Initially, VW will invest $1 billion into ...