The new agreement, which builds on an earlier announcement, calls for the German automaker to invest $5.8 billion in Rivian, a maker of electric vehicles.

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.

Volkswagen and Rivian join forces in a $5.8 billion venture to accelerate electric vehicle innovation, combining expertise to revolutionize EV production and drive sustainable mobility.