Ford and Rivian are collaborating on an EV

Ford and Rivian are collaborating on an EV

Ford and Rivian are collaborating on an EV

As part of the deal, Ford will develop an EV based on the "skateboard" platform that's slated to underpin the Rivian R1T and R1S. Ford has stated that it intends to build a battery-electric version of its best-selling F-150 pickup truck, and Rivian's R1T is proof that the company's EV platform can serve as the basis for a truck. Although the company has a line of hybrids, it has lagged behind rival General Motors in bringing a BEV to market, although it does plan to release an electric crossover called the Mach-1 next year, with an electric F-150 truck in the works, too.

"This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility". "At the same time, we believe Rivian can benefit from Ford's industrial expertise and resources".

Rivian will remain an independent company, but Joe Hinrichs, Ford's president of automotive, will get a seat on the startup's seven-member board. And it seems not just among potential customers, because one of the world's biggest vehicle companies has today announced it's made a $500million investment in the ten-year-old company.

Hackett, 64, said on a conference call Wednesday that the deal with Rivian won't interfere with Ford's talks with VW. The investment is subject to customary regulatory approval. They said it would not be one of the two BEVs Ford has already announced.

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The two Rivian models, the R1S and R1T, will launch in 2020 and have a claimed EV range of up to 400 miles. But he said vehicles it develops with Ford will be distinct, with Rivian focused on higher-priced performance models in the active lifestyle space.

The Associated Press reports that Rivian has facilities outside of Detroit in San Jose and Irvine, California, and Surrey, England.

Scaringe said Rivian has plans for lower-cost vehicles in the future, and both companies said they likely would have products that compete for buyers.

Ford Motor Company is a global company based in Dearborn, Michigan. Hinrichs said the partnership will speed development and save money on the new Ford vehicle. The company now employs about 20 people at an office in Novi.

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