US Stock Market Move | The public drives a $5.8 billion push to advance the cooperation plan, Rivian Automotive (RIVN.US) rises nearly 15%.

On Wednesday, Rivian Automotive (RIVN.US) surged nearly 15%. On the news front, on Tuesday, Volkswagen announced plans to invest an additional $800 million in a joint venture with Rivian to develop battery-powered vehicles. In June of this year, Volkswagen had previously stated that they planned to invest $5 billion in Rivian. In addition, Volkswagen and Rivian have appointed leaders for their multi-billion dollar joint venture and have shown a prototype electric vehicle, demonstrating their commitment. This financial lifeline may help alleviate concerns about Rivian's cash burn and allow the German automaker to access the software technology of its American partner.