<ul><li>German car giant Volkswagen has increased its investment in electric vehicle specialist Rivian, marking the official start of their joint venture.</li><li>Volkswagen initially planned to invest $5 billion in Rivian by 2026, and now they have raised their investment to $5.8 billion.</li><li>The joint venture will result in co-developed next-generation EV architecture and software, integrating Rivian's technology for future Volkswagen and Rivian EVs.</li><li>Volkswagen's increased investment comes amid financial struggles and pay cuts within the company, while Rivian's value has risen after the announcement.</li></ul>

Rivian, Volkswagen joint venture becomes official

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