Currently reading: Ford invests $500 million in EV company Rivian
Strategic partnership will lead to Ford using Rivian's skateboard architecture for a new battery electric model
James Attwood, digital editor
News
2 mins read
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.

Read more

Amazon leads £544 million investment in EV start-up Rivian​

"How I started my own car firm" - the story of Rivian​

EV manufacturer Rivian plans rally-style performance car​

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405line 25 April 2019

Typical

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.

Bazzer 24 April 2019

I can't understand why the

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.

xxxx 25 April 2019

FORD

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.

TStag 24 April 2019

Hmmm I wonder how much JLR

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