Monday, October 3, 2022
News In Q1 Of 2020, Ford Drops $2 Billion And The Rivian/Lincoln Electric...

In Q1 Of 2020, Ford Drops $2 Billion And The Rivian/Lincoln Electric SUV

In order to avoid future financial expenditures, Ford cuts out Rivian/Lincoln Electric SUV project.


  • Hours after the news of the Lincoln Mark E SUV, it was no more…

  • Q1 net loss and Coronavirus aftermath have influenced the decision.

  • Fortifying the balance sheet is a necessity.


Despite, $34 billion in revenues in Q1, Ford has suffered a $2 billion net loss so far in 2020. Every aspect of their business or nearly has taken a hit, including Ford Credit and For Mobility. The outlook for the remainder of 2020 is bleak and so decisions are being made to curb various expenditures, namely the Lincoln Mark E electric SUV co-developed with Rivian.

Ford CEO Jim Hackett said: “Ford people are keeping each other safe, limiting the spread of the virus, safeguarding healthcare workers and first responders, and taking care of customers. The imagination, initiative, and execution of our team is helping save lives today, and those qualities will allow Ford to emerge from this as a stronger company.” One of the ways seems to be by cutting down on some future projects.

Rivian + Ford = Lincoln Mark E Electric SUV

Now, the Lincoln Mark E was going to be a low-volume near-six-figure luxury SUV but it would have made quite the mark, and flagship for Ford’s luxury brand. As a stillborn vehicle, there are no losses to report however Ford did invest $500 million in Rivian – we can safely assume the project is only postponed.

What will go ahead is the planned launch of the Ford Mustang Mach-E and the creation of its unidentical twin under the Lincoln banner.

Rivian R1S | Photo: Matt St-Pierre

2020 Lincoln Aviator | Photo: Matt St-Pierre

Trending Now

Battery Problems will Lead to a Volkswagen EV Recall

A manufacturing defect has been found in some battery cells This problem affects the ID.4 and the ID.3 Volkswagen estimates this recall to...

Rivian Is now Certified by Transport Canada

The automaker had failed to obtain its certification earlier this week. Transport Canada has now cleared the company after receiving the requested documentation ...

The new 2023 BMW M760e xDrive is a Plug-In Hybrid Powerhouse

It more or less replaces the lauded M760Li and its boosted V12 engine. The M760e xDrive is the ICE 7 Series flagship. The BMW...

BMW Unveils the XM, the Most Powerful Vehicle in its History

The following vehicle leaves the factory with a plug-in hybrid powertrain, but let's just say that its primary mission is to deliver a good...

Bentley Bentayga S and Azure Add Sport and Comfort to Big-Buck SUV

A pair of new trims enhance the hybrid Bentayga in two different ways Both get more power and extended EV range The Bentley Bentayga...
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

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.