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Volkswagen plans on injecting copious amounts of capital into Rivian.

More on this topic shortly.
More on this topic shortly.

Vehicle powered by electricity - Volkswagen plans on injecting copious amounts of capital into Rivian.

Auto giant Volkswagen is set to fork over as much as $5 billion to American electric vehicle manufacturer Rivian in the coming years. This funding spree kicks off with Volkswagen buying a billion dollars worth of convertible bonds. Next up, Volkswagen plans to team up with Rivian and pump an additional $4 billion into their joint endeavor, as both parties have confirmed.

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