Friday, November 27, 2020
News Ford Invests $500 Million in Rivian To Develop Electric Vehicle

Ford Invests $500 Million in Rivian To Develop Electric Vehicle

Wow is all we can say. Ford announced just a few minutes ago a massive investment in EV startup Rivian.

More specifically, Ford plans to invest $500 million into Rivian who so far has introduced us to the Rivian R1T pickup and Rivian R1S SUV. Both are fully electric and now thanks to this new and important investment from Ford, a new 100-percent electric vehicle is on the way.

The investment buys Ford a minority investment in Rivian who will lend its skateboard platform for the development of a new fully electric Ford vehicle. Part of Ford’s global electrification strategy to which $11 billion dollars have been allocated, the new Ford EV will join an electric Ford F-150 and Mustang-inspired electric crossover set to debut next year.

“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 President of Automotive Joe Hinrichs will be joining Rivian’s board as part of the investment as well. Back in February Rivian and Amazon confirmed a $750 million dollar investment by the tech giant that solidified the EV builder’s future and growth. There have been talks of a GM investment in the last few months, but it will be interesting to see where talks stand after Ford’s investment.

Rivian and Ford have been working together for a little bit with Rivian using F-150 bodies to test its new R1T pickup.

Rivian R1T
Rivian R1T | Photo: Rivian

Rivian R1S 3-row all-electric SUV
Rivian R1S | Photo: Rivian Automotive

Rivian R1S 3-row all-electric SUV
Rivian R1S | Photo: Rivian Automotive

Trending Now

Taiga Electric Snowmobile Drag Races Tesla Model S… And Wins

Taiga snowmobiles was founded in Quebec in 2015 The entire snowmobile uses components built from scratch It has 140 km/h of range (88...

Nissan Gets $4.1 B in Financing For US Car Loans: Report

Half of financing coming from government agency Nissan still reeling from Ghosn and pandemic The Japnese government is giving Nissan money to lend to...

EVs Need To Travel More 50,000 Miles To Match ICE Carbon Footprint: Report

Building EVs still produces far more CO2 than building internal combustion engine vehicles. Manufacturing Lithium-Ion batteries is especially energy-intensive. The debate as to whether...

Musk Plans Tesla Roadster in Supercar Colours

A range of shades fitting of the car's performance Started offering special colours on original Roadster Tesla is known for many things when it...

Ram Introduces 4th Installment Of Limited-Edition “Built to Serve” Trucks

The unique colours are “Tank” and “Flame Red”. 1,000 units of each will be produced. The trucks will be available in showrooms next...
Charles Jolicoeur
Charles Jolicoeur
Charles Jolicoeur was studying to be a CPA when he decided to drop everything and launch a car website in 2012. Don't ask. The journey has been an interesting one, but today he has co-founded and manages 8 websites including EcoloAuto.com and MotorIllustrated.com as General Manager of NetMedia360. He also sits on the board of the Automotive Journalists Association of Canada. Send me an email

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

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