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

 

Remember last year when you were scrolling through Facebook and you saw all those articles about the new company that could rival Tesla with their fully electronic pickup and SUV? It was Rivian, the small, independent motor company pioneering the electronic utility space. Well, they may soon become a lot bigger, Ford invested $500 million in the business.

 

Rivian announced the equity investment on April 24, and in addition to the investment the two companie plan to work together to create an all-new, next generation battery powered electric vehicle for Ford’s growing profile of EVs (electronic vehicle).

 

This young company could prove to be the perfect partner for Ford as they work towards a fully electric future.

 

“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.”

 

Bill Ford, Ford’s executive chairman says he’s excited about the partnership. He’s gotten to know RJ Scaringe and realizes that they have a common goal for a sustainable future. Something they can mutually respect.

 

With Rivian’s skateboard platform, Ford hopes to develop a next level F-150. The skateboard platform is named for the fact that it looks like, well, a skateboard. Imagine a skateboard, the board is the battery and the suspension and axles are the trucks. This technology makes EVs even more efficient.

 

Rivian has tried and tested their technology with their two vehicles which are almost ready for release: the R1T a pickup and the R1S an SUV. Both of these EVs can go for up to 400 miles plus and they provide something completely unmatched: an unseen combination of performance, capability, utility, and efficiency. The two Rivian vehicles will launch in late 2020.

 

Ford’s project with Rivan will join Ford’s growing portfolio of battery power EVs. Ford made an $11 billion EV investment and has already confirmed two massive entries. The mustang-inspired crossover and the zero-emissions F-150. Both of these vehicles are American icons and there are no better electronic 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 come out of it.

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