12:52 PM EDT, 03/27/2026 (MT Newswires) -- Rivian Automotive ( RIVN ) secured another $1 billion investment from Volkswagen Group after completing winter testing for the VW ID EVERY1, the first vehicle in their joint venture to use Rivian's software and electrical architecture, TechCrunch reported Friday.

About $750 million of the funding will come in the form of an equity investment, with the remaining $250 million structured as either equity or convertible debt depending on the prototype testing arrangements between the companies, the report said.

Rivian Automotive ( RIVN ) and Volkswagen did not immediately respond to a request for comment from MT Newswires.

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