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German auto giant Volkswagen has officially launched a joint venture with US electric vehicle manufacturer Rivian, committing to a €5.8 billion ($6.2 billion) investment, €800 million more than previously planned, to accelerate its electric vehicle transition. The partnership is expected to produce its first models based on Rivian’s advanced electric car technology from 2027, VW Group CEO Oliver Blume said at the launch of the joint venture in Palo Alto, northern California, on Tuesday. Volkswagen, Europe’s largest automaker, aims to leverage Rivian’s innovative electric and software architect…

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