Following EV maker Rivian's $5 billion investment from Volkswagen, the stock surges by 50%.

Following EV maker Rivian’s $5 billion investment from Volkswagen, the stock surges by 50%.

Volkswagen Group and Rivian Automotive are collaborating to create software technology that will support the two companies’ efforts to produce electric cars. In after-hours trading on Tuesday, shares of Rivian surged by over 50% to almost $18 apiece, following Volkswagen’s announcement that it will spend $1 billion in the electric vehicle manufacturer initially, with ambitions…

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