Rivian Automotive Inc. and Volkswagen have launched their upsized joint venture, joining forces with the goal of creating “cutting-edge” electric-vehicle technology.

Shares of Rivian jumped over 15% after the EV maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture.

The new agreement, which builds on an earlier announcement, calls for the German automaker to invest $5.8 billion in Rivian, a maker of electric vehicles.