The new agreement builds on an earlier announcement in which the German automaker said it would invest up to $5 billion in Rivian, a maker of electric vehicles. The new venture brings them closer.
Investors believe that the electric car company led by Elon Musk will benefit from his support of the president-elect.
Elon Musk has said that the vehicle will add trillions to Tesla’s stock market value and that those who don’t believe him should sell their shares.
The automaker reported a gain of 6.4 percent for the latest quarter, its first such increase this year.
Lawyers for Tesla have asked a Delaware judge to reverse her decision to void a multibillion-dollar pay package for Mr. Musk after shareholders approved it a second time in June.
High prices and growing demand have helped U.S. oil producers take in record profits despite global efforts to spur greater use of renewable energy and electric cars.
VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
Investors voted overwhelmingly to reinstate the C.E.O.’s multibillion-dollar compensation package, inextricably tying the car maker’s future to the tech billionaire.
About 72 percent of the shares in the balloting affirmed the lucrative stock award to the chief executive in a bid to get a court to reinstate it.
A huge run-up in the stock’s value followed a 2018 vote on Elon Musk’s compensation package. But investors have recently become less enamored.