SAN FRANCISCO, June 25 (Reuters) - German automaker

Volkswagen Group will invest up to $5 billion in

U.S. electric-vehicle maker Rivian as part of a new,

equally controlled joint venture to share EV architecture and

software, the companies said on Tuesday.

The partnership will help Volkswagen accelerate its plans to

develop software-defined vehicles (SDV), with Rivian licensing

its existing intellectual property rights to the joint venture.

While EV startups have been grappling with a slowdown in

demand amid high interest rates and dwindling cash, traditional

automakers have struggled to build battery-powered vehicles and

advanced software.