Volkswagen AG and Rivian Automotive Inc. named leaders for their multibillion-dollar joint venture and showcased a prototype electric vehicle, signaling their commitment even as global EV demand softens and the incoming Trump administration threatens to curtail supportive policies.

The EV company and VW agreed to a partnership in June that could provide Rivian with around $5 billion in capital in the coming years.

The joint venture targets Rivian’s existing electrical architecture and software technology stack, enabling the launch of Rivian’s R2 model in the first half of 2026, the companies said.