Volkswagen’s Investment in Venture With EV Maker Rivian Rises to $5.8 Billion

The two companies will work together to create new electric vehicle architecture and software for future models.

Rivian cars sit parked in front of the offices of Rivian in Irvine, Calif., on April 26, 2023. John Fredricks/The Epoch Times

Volkswagen Group (VW) has increased its planned investment in a partnership with electric vehicle maker Rivian by 16 percent ahead of operations launching on Nov. 13, the two companies announced.

In a joint statement, the German car giant and the Amazon-backed electric car maker said the joint venture is now backed by an investment of up to $5.8 billion, marking an increase from an initial investment of up to $5 billion first announced in June.