Source: Reuters
| Editor: Wahyu T.Rahmawati
AUTOMOTIVE - SAN FRANCISCO. German automaker Volkswagen Group will invest up to $5 billion in U.S. electric-vehicle maker Rivian as part of a new, equally controlled joint venture to share EV architecture and software, the companies said on Tuesday.
Shares of Rivian surged 30% in extended Nasdaq trade after the announcement, boosting the company's stock market value by more than $3 billion.
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