Volkswagen (VW) has announced a major investment of up to $5 billion in Rivian, a direct competitor to Tesla, to form a joint venture aimed at sharing electric vehicle (EV) technology.

This partnership, initially involving a $1 billion investment, with the remainder by 2026, caused Rivian’s stock to surge nearly 50%.

The move underscores VW’s push to compete with Tesla and Chinese EV manufacturers amid increasing global competition and tariffs on Chinese imports.

The collaboration allows VW to integrate Rivian’s advanced software into its own vehicles as part of its strategy to transition from fossil fuels to electric power.

Credit : BBC

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