Get the latest tech news
VW to invest up to $5bn in Tesla rival Rivian
Shares in the US-based electric truck and SUV maker jumped by around 50% after the announcement.
The deal creates a joint venture that will allow the German car making giant and the Tesla rival to share technology. The tie-up comes as competition intensifies between EV makers in the face of slowing sales and more companies entering the market. Under the agreement, VW said it will initially invest $1bn in the electric truck and SUV maker, with another $4bn to be put into the company in the coming years.
Or read this on BBC News
