Volkswagen expands joint venture with Rivian on electric vehicles

NEW YORK (WDEF) – Volkswagen’s new commitment to their deal with Rivian is a hit on Wall Street.

Rivian stocks jumped Wednesday afternoon after their announced an expansion of their partnership with Volkswagen.

VW is investing in their attempts to build EVs in Georgia.

Rivian gets a much needed influx of cash.

And Volkswagen gets access to Rivian’s electrical architecture and software.

The deal kicks in immediately in North America.

And it will help V-W expand their electric vehicles into the subcompact class.