 And Volkswagen announced that they plan to invest up to $5 billion in Illinois electric vehicle maker Rivian, beginning with an initial investment of $1 billion. Rivian officials said the capital is expected to carry the company through the production ramp-up of its smaller R2 SUVs at its plants in Normal. Shares of Rivian soared more than 50% during after-hours trading on Tuesday. The stock had been under pressure due to the company's cash burn and significant losses.