 Volkswagen Group has announced plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The investment will be used to create electrical architecture and software technology and will carry the company through production of its smaller R2 SUVs, as well as help its plant in Normal, Illinois and in Georgia, where the company paused construction earlier this year. Shares of Rivian soared more than 50% upon the news.