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.

Rivian and Volkswagen Group have finalized a multibillion-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. Volkswagen will invest up to $5.8 billion by 2027, about 16% more than when the deal was first announced in June.

Electric vehicle manufacturer Rivian Automotive and the Volkswagen Group are partnering up in a nearly $6 billion deal to create a new technology company.

Volkswagen Group raised its investment in Rivian by 16% to $5.8 billion, the two automakers said on Tuesday, as the companies kick off their planned joint venture to develop electric vehicle architecture and software.

Volkswagen AG and Rivian Automotive Inc. named leaders for their multibillion-dollar joint venture and showcased a prototype electric vehicle, signaling their commitment even as global EV demand softens and the incoming Trump administration threatens to curtail supportive policies.

Rivian Automotive Inc. and Volkswagen have launched their upsized joint venture, joining forces with the goal of creating “cutting-edge” electric-vehicle technology.

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 and Volkswagen Group 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 venture aims to integrate advanced electrical infrastructure and Rivian's software technology for future electric vehicles of both companies,

The announcement lifts the veil on one of the largest automotive deals this year, providing more details on its goals, leadership and financial structure.

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.

Analysts see the joint venture between VW and Rivian as shoring up many concerns about the U.S. EV maker's challenges.