Volkswagen Will Invest Up to $5 Billion in EV Maker Rivian
VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
The automaker said it would delay new battery-powered models and shift its focus to hybrid cars, sales of which are rising fast.
It and other foreign automakers are trying to exploit upheaval caused by new technology to gain market share from their dominant rivals.
Purchases of popular models like the Tesla Model 3 and the Ford Mustang Mach-E may no longer entitle buyers to tax savings because the cars do not meet tougher sourcing requirements.
The three U.S. automakers say they are already at a disadvantage to nonunion rivals while labor leaders hope that big gains in negotiations will inspire workers in Southern states to unionize.
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