Last June, VW said it would invest $5 billion in Rivian as part of a new joint venture that’s focused on developing a new electrical architecture and vehicle software for future models, including subcompact cars, with the first planned for 2027. The investment size has now increased to $5.8 billion.

The companies said the deal is now up to $5.8 billion – up from $5 billion – with the first VW models to use Rivian's software and electrical architecture arriving as early as 2027.

Nov 12 (Reuters) - Rivian (RIVN.O), opens new tab and Volkswagen Group (VOWG_p.DE), opens new tab launched on Tuesday the joint venture they had announced in June, valued at $5.8 billion, to share software and electric vehicle architecture. The joint ...