Volkswagen AG raised investment plans in Rivian Automotive Inc. by $800 million, signaling its commitment to the US partner even as electric-vehicle demand softens and the incoming Trump administration threatens to curtail supportive policies.

Volkswagen raised its planned investment in Rivian to $5.8 billion. But Trump administration is unlikely to bode well for EV manufacturers.

Volkswagen and Rivian have launched a $5.8bn joint venture, sharing critical EV technology amid slowing global demand and competition.

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 is teaming up with Volkswagen in a $5.8 billion joint venture for EV innovation on its R2 model, which the company says will eventually be manufactured in Georgia. Electric vehicle startup Rivian Automotive Inc.

The world’s second-largest automaker and the Silicon Valley startup are trying to address each other’s core weakness.

Volkswagen and Rivian have crossed all their T’s and dotted all their I’s in their new $5.8 billion joint venture, which officially kicks off its work on November 13th, the companies announced today.

Rivian (RIVN) is losing over $1B per quarter, or $30K-$40K on each truck it sells, with current volumes not enough to sustain its spend rate. Unless it acted quickly, bankruptcy could have been in the cards,