What to know about the Volkswagen-Rivian partnership WHIO TV 7 and WHIO Radio [Video]

NEW YORK — Volkswagen on Tuesday said it would invest up to $5 billion in Rivian, an electric vehicle startup based in California. The move sets the stage for a partnership that could benefit both companies and reshape the growing EV industry.

The joint venture, which the two companies said would focus on software development, grants Volkswagen access to Rivian’s engineering expertise while bolstering Rivian with a much-needed cash infusion.

“Through our cooperation, we will bring the best solutions to our vehicles faster and at lower cost,” Oliver Blume, CEO of the Volkswagen Group, said in a statement on Tuesday. “The partnership fits seamlessly with our existing software strategy, our products, and partnerships.”

Here’s what to know about the $5 billion deal between Volkswagen and Rivian:

What do Volkswagen and Rivian bring to the partnership?

At first blush, Volkswagen and Rivian appear to be a fairly odd couple.

Rivian has struggled to turn a profit even as sales of …