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Electric truck maker Rivian's $5 billion deal with Volkswagen Group nets Rivian some much-needed cash. But it also gives Volkswagen a path to a future in the auto industry it has struggled to gain on its own.

In its short lifespan, Rivian has enjoyed praise from the automotive press, received chart-topping customer satisfaction ratings, gone through one of the biggest initial public offerings of all time, and watched its market value swell to $150 billion.