Rivian has announced plans to launch five new electric vehicles following a significant $5 billion investment from Volkswagen Group. This partnership, which will focus on advancing EV technology and software, aims to benefit both companies.

A recent presentation from Rivian revealed plans for new or updated models, divided into four categories: Gen 1, Gen 2, MSP (Midsize Platform), and Affordable Mass Market. The Gen 1 category includes the first-generation R1T and R1S, as well as the electric delivery van made for Amazon. Gen 2 features updated versions of the R1T and R1S, while MSP includes the new R2 and R3 models introduced earlier this year.

Notably, the Affordable Mass Market category includes three veiled vehicles, suggesting Rivian’s intention to offer more budget-friendly options. The company indicated that these vehicles would be more affordable than the R2, which is priced starting at $45,000.

The partnership with Volkswagen provides Rivian with much-needed financial support, while Volkswagen gains access to Rivian’s advanced EV technology. This collaboration could significantly impact the EV market by making electric vehicles more accessible to a wider range of consumers.

The new models, however, will take time to reach the market. The R2 is slated for release in 2026, followed by the R3, with the other models expected to debut later.