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Rivian and Volkswagen announce $5.8B joint venture for SDV architecture
Rivian Automotive and Volkswagen Group announced a 50-50 joint venture, Rivian and Volkswagen Group Technologies (RV Tech), to develop next-generation electrical architecture and software-defined vehicle technology. The transaction is worth up to $5.8 billion in total Volkswagen investment through 2027, including a $1 billion convertible note already made.