Strategic partnership will lead to Ford using Rivian's skateboard architecture for a new battery electric model
James Attwood, digital editor
24 April 2019

Ford has agreed a deal with Rivian to develop a new model on the fast-rising electric vehicle (EV) maker's platform - and take a minority stake in the firm.

Rivian is currently developing its R1T pick-up truck and R1S seat-seat SUV, which will both be built on a bespoke 'skateboard’ chassis that was designed to be modular, so it can be used for a wide range of machines.

The new strategic partnership, in which Ford has taken around $500 million (£386 million) equity investment in Rivian, will result in engineers from the two American companies working together to develop a battery EV for Ford.

There are no details yet on the type of vehicle the firms will work on, although it will be “all-new”. In the US, Ford has shifted its focus to pick-ups and SUVs, and it's currently developing an electric version of its hugely popular F-150.

Ford boss Jim Hackett said the partnership with Rivian “brings a fresh approach” to Ford's development of EVs and that the fledgling firm “can benefit from Ford’s industrial expertise and resources”.

Rivian founder RJ Scaringe called the deal a “key milestone in our drive to accelerate the transition to sustainable mobility”.

Rivian will remain an independent company. Ford is just the latest major investor the firm has secured; it had already raised £894.5m, including £544 million from online retailing giant Amazon, announced at the Los Angeles motor show.

The deal is also the latest in a number of partnerships that Ford has secured as part of its global restructuring. It recently agreed a deal to work with Volkswagen to develop a range of vehicles, including vans and mid-size pick-ups, and has talked about building vehicles using the German conglomerate's MEB platform for EVs.

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Comments
11

24 April 2019

.... you can't beat 'em buy 'em.

Makes you wonder what FORD have been wasting R and D money, PR judging by the number of stories they've been putting out regarding their 25 BEVs by 2025 pipe dream.

typos1 - Just can’t respect opinion

24 April 2019

Think they (Henry) also were in talks with VW about sharing their EV platforms. Seems like Ford were caught sleeping & are now playing catch-up.

Won't be long before Tesla will be snapped up or part bought by a larger manufacturer, maybe GM because they are also lacking in EV hardware.

24 April 2019
jagdavey wrote:

Think they (Henry) also were in talks with VW about sharing their EV platforms. Seems like Ford were caught sleeping & are now playing catch-up.

Won't be long before Tesla will be snapped up or part bought by a larger manufacturer, maybe GM because they are also lacking in EV hardware.

 

Rivian is a start-up, yet to build a single production car and is worth far in excess of $2bn - Amazon bought a stake for $700m, Ford $500m. How much would Tesla be worth?

 

24 April 2019
jagdavey wrote:

Think they (Henry) also were in talks with VW about sharing their EV platforms. Seems like Ford were caught sleeping & are now playing catch-up.

Maybe Ford have just realised that the VW group are rather less than thorough when developing new technology, and that Rivian might be a better bet.

25 April 2019
catnip wrote:

jagdavey wrote:

Think they (Henry) also were in talks with VW about sharing their EV platforms. Seems like Ford were caught sleeping & are now playing catch-up.

Maybe Ford have just realised that the VW group are rather less than thorough when developing new technology, and that Rivian might be a better bet.

Actually FORD and VAG never signed an EV deal, they said it might happen. The deal was regarding pick-ups etc

typos1 - Just can’t respect opinion

24 April 2019

Nice partnership! Strategic move for Ford. <a href="https://towingtysonsva.com/">tyson towing services</a>

 

24 April 2019

Hmmm I wonder how much JLR could flog access to it’s electric car platform for?

24 April 2019

I can't understand why the largest car manufacturer in the world would NEED to invest money in a 'small' start-up.  If they invested half a billion (half a billion!!!) in their own EV set-up, it would be all theirs.  There's something missing about this story, I'm sure.

25 April 2019

They need a start-up because they've fallen so far behind. Hard to believe they make fewer BEVs than than used to, they dropped the electric Focus,  which leaves them back where they started.

typos1 - Just can’t respect opinion

25 April 2019

The mass companies do nothing until a gun is pointed at their heads, considering how many vehicles they sell and their profits I think they should be made to do more.

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