Saturday, February 4, 2023
News Ford Cancels Partnership with Rivian

Ford Cancels Partnership with Rivian

Ford will not collaborate with Rivian on a new EV after all

  • Ford thinks it is in a position to become leader of the EV market on its own

  • Ford had invested $500 million in Rivian in 2019 with hopes to use its technology

  • Ford is still a share holder of Rivian and the two companies are still on good terms

Ford has just announced it will not work on a future electric vehicle with Rivian after having talked about it for over a year.

Ford invested $500 million into Rivian, a young electric car maker, back in 2019, when the latter had not built a single vehicle yet.

This investment was a way for Ford to be able to benefit from the technology developed by Rivian by using it in Ford and Lincoln branded vehicles.

Ford was also talking about a Lincoln SUV that would use Rivian’s skateboard platform, which packages the battery and the motors in a slab that can fit underneath a vehicle and act as the frame.

Only a few months later, the automaker cancelled this plan, citing the pandemic as the reason why this collaboration would not work. At the time, the company’s CEO was quick to reinforce the continuing partnership with Rivian, however.

Today, Ford cancelled plans for all future collaboration between the two automakers.

The reason behind it is that Ford now feels confident it can become a leader in the electric vehicle segment du to the popularity of the Mustang Mach-E and the close to 200,000 orders for the F-150 Lightning pickup.

This announcement follows the one in which Ford revealed it is going to double its annual EV production to reach 600,000 units in by 2024. Provided the market doesn’t change too much between now and then, this would make Ford the second largest producer of EVs in the world, behind Tesla.

Ford’s CEO said the company will keep the shares it owns in Rivian (about 5% of the Startup)  and explained that the relationship between the two companies is still good, with Ford considering Rivian as its little brother.

Trending Now

The 2024 Cadillac Lyriq will start at $58,590 in the US.

The new Lyriq Tech trim level will be responsible for this $4,400 discount over the 2023 base price. This version will forgo some...

Volvo is Planning its Largest Revamp in Over 10 years

The company wants to add at least six electric vehicles by 2026. New electric versions of the S60, S90, XC40, XC60 and XC90...

Ford to Return to Formula 1 Racing After Over 20 Years

The automaker will provide hybrid powertrains for the Oracle Red Bull Racing and Scuderia Alfa Tauri teams from 2026. Red Bull Powertrains will...

The All-New 2024 Mazda CX-90: Everything You Need to Know

It features two new hybrid powertrains. The CX-90 is not only the most powerful Mazda ever but the most luxurious. Mazda Canada has just...

EPA Says the Hyundai IONIQ 6 can Drive up to 581 Kilometers on a Charge

The shortest-range versions are the SEL and Limited AWD, which can drive 435 km on a charge. The IONIQ 6 has a drag...


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.