Electric vehicle manufacturer Rivian Automotive and the Volkswagen Group are partnering up in a nearly $6 billion deal to create a new technology company.

The companies said the deal is now up to $5.8 billion, with the first VW models to use Rivian's software and electrical architecture arriving as early as 2027.

Volkswagen has increased its planned investment in the electric automaker Rivian through a joint venture that officially launches Wednesday. The first Volkswagen models made with Rivian’s technology are expected to launch in 2027.