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Volkswagen to invest up to $5 billion in EV maker Rivian as part of tech joint venture

  • Volkswagen plans to invest $1 billion immediately in Rivian and establish a joint venture, with a potential total investment of up to $5 billion by 2026.
  • The investment will be made through a note converting to stock on Dec. 1, subject to approvals, and a $1 billion payment is expected in Q4 2024.
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Autoblog broke the news in on Tuesday, June 25, 2024.
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