German car maker VW to invest up to $5bn in Tesla rival Rivian
Source: BBC
Volkswagen (VW) says it will invest up to $5bn (£3.94bn) in US electric vehicle (EV) maker Rivian.The deal creates a joint venture that will allow the German car making giant and the Tesla rival to share technology.Rivian shares jumped by around 50% after the announcement.The tie-up comes as competition intensifies between EV makers in the face of slowing sales and more companies entering the market.Under the…
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