This is KCBS Radio's daily Tech and Business Report. Today, KCBS Radio news anchor Nikki Medoro spoke with Bloomberg's Ed Ludlow.

Volkswagen and Rivian have reached deal worth up to $5 billion that will see the two team up to work on electric vehicle technology.

You can hear our Tech and Business Report weekdays at 12:30 pm on KCBS Radio and for more, tune into Bloomberg Technology weekdays at 8 am.