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Rivian stock soars as Volkswagen says it will invest up to $5 billion in new joint venture

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Irving, Ca.-based Rivian's shares were up over 40% in after hours trading. Volkswagen announced it intends to deal with Rivian to create “next generation software-defined vehicle (SDV) architectures” to be used in both companies’ future EVs. The joint venture will use Rivian’s “zonal hardware…

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