The new joint venture — Rivian and Volkswagen Group Technologies — will officially kick off November 13 as an independent company. And, if successful, it could be a boon for both companies.

Rivian and the Volkswagen Group have formed a joint venture and are seeking to share software and platforms in the coming years, with the German automaker set to invest $5.8 billion in Rivian by 2027.

Rivian and Volkswagen made their joint-venture plans official, with the German carmaker raising the investment to $5.8 billion or $800 million more than initially planned. Rivian appears to get ...