Rivian Automotive Inc. and Volkswagen Group have launched their upsized joint venture, vowing to join forces to create “cutting edge” EV technology.

Rivian and Volkswagen Group have finalized a multibillion-dollar joint venture to develop software, paving the way to let the German auto giant leverage the EV startup’s more technical chops in the coming years. Volkswagen will invest up to $5.8 billion by 2027, about 16% more than when the deal was first announced in June.

The joint venture targets Rivian’s existing electrical architecture and software technology stack, enabling the launch of Rivian’s R2 model in the first half of 2026, the companies said.