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

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.

Shares of Rivian jumped over 13% in premarket trading Wednesday after the electric vehicle maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture. The investment boost comes at a crucial time for Rivian,

Volkswagen will invest up to $5.8 billion in Rivian stock and a joint venture—up from a $5 billion deal value envisaged when the collaboration was announced in June. Rivian stoc

Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create “cutting edge” EV technology.

The joint venture targets Rivian’s existing electrical architecture and software technology stack, enabling the launch of Rivian’s R2 model in the first half of 2026, the companies said.