(Bloomberg) -- Volkswagen AG is taking another swing in its long struggle to catch up with Tesla Inc., plowing $5 billion into a tie-up with the US company’s closest would-be rival, Rivian Automotive Inc.Most Read from BloombergYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorVW Latches Onto Rivian in $5 Billion EV Pact to Regain MomentumTrump Could Actually Lose Florida. Here’s Why.Nvidia Rout Takes Breather as Traders Scour Charts for SupportJulian Assange Leaves Court
The EV maker adds about $6 billion in market value since announcing its partnership with Volkswagen.
Ford is recalling more than 550,000 F-150 pickups in the United States because of an issue that can cause the transmission to suddenly and unexpectedly, at any speed, shift down to first gear.