On Tuesday, Volkswagen AG (OTC:VWAGY) revealed it will be providing Rivian Automotive Inc (NASDAQ:RIVN) with a cash injection of $5 billion. Together, Rivian and Volkswagen are embarking on a joint venture to create vehicle software as they both fight for their place under the EV sun and look for ways to challenge the EV king, Tesla Inc (NASDAQ:TSLA). Volkswagen and Rivian announce a 50/50 win-win venture.

Volkswagen will be working with Rivian on creating the "next generation software-defined vehicle (SDV) architectures" that both will use to build their future EVs. With an immediate investment of $1 billion that...