Ford Invest $500 Million In Rivian and Form a Partnership to Deliver All-New Ford EV


Remember Rivian? They were that small motor company that blew up on social sites for their fully electric truck. Well, the hopefully startup just got a lot more hope with a $500 million investment from Ford Motor Company.


On April 24, Rivian announced the equity investment, and in addition to the investment to two companies have agreed to work together to develop an all-new, next generation battery powered electric vehicle for Ford’s growing electric vehicle, EV, portfolio.


Who better than Rivian a young company with similarities to the likes of those named after famous scientists to bolster Ford’s future with EVs.


“This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility,” said RJ Scaringe, Rivian founder and CEO. “Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry's earliest advocates, and we are excited to use our technology to get more electric vehicles on the road.”


Ford’s executive chairman Bill Ford expressed his feelings about the partnership saying he’s excited, and that he’s gotten to know and respect RJ and that they share a common goal for a sustainable future.


Ford intends to develop a new vehicle using Rivian’s flexible skateboard platform. The skateboard platform is named for its skateboard shape with a large battery where the deck would be and suspension placed where the trucks go.


Rivian has already developed two vehicles using this technology: the R1T pickup and the R1S SUV. The vehicles will deliver up to 400-plus miles of range and provide an entirely unmatched, unseen combination of performance, capability, and utility. These vehicles launch in late 2020.


The new electric Ford made with Rivian’s technology will join Ford’s planned portfolio of battery powered vehicles. Ford made an $11 billion electric vehicle investment and has already confirmed two important fully electric vehicles: a Mustang-inspired crossover and a zero-emissions F-150. Both of these vehicles will come from iconic dynasties: there are no better electric ambassadors.


Following this investment, Ford’s president Joe Hinrichs will join Rivian’s seven-member board.


This partnership could prove huge for the electronic vehicle market, and we can’t wait to see the advanced, eco-friendly vehicles that spawn from it!

Categories: News
; ;