German car making giant Volkswagen (VW) says it will invest up to $5bn (£3.94bn) in Tesla rival Rivian.
The deal creates a joint venture that will allow VW and the US-based electric vehicle (EV) maker to share technology.
Rivian shares jumped by almost 50% after the announcement.
The tie-up comes as competition intensifies between EV makers and Western countries move to impose tariffs on Chinese imports.
Under the agreement ... Read even more
