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Volkswagen invests $5 billion in EV startup Rivian to form joint venture

The move comes as demand for electric vehicles slows

Bloomberg News

Volkswagen AG is taking another swing in its long struggle to catch up with Tesla Inc., plowing $5 billion into a tie-up with the US company’s closest would-be rival, Rivian Automotive Inc.. VW and Rivian are set to jointly develop battery-powered vehicles and software, a partnership that will give the German carmaker access to the […]

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