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.

The announcement lifts the veil on one of the largest automotive deals this year, providing more details on its goals, leadership and financial structure.

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