Ford Motor to Put $500 Million Into Electric Vehicle Startup Rivian

April 24th, 2019

Panic:

With Ford, who wants to increasingly focus on milking truck profits, it could get ugly over there in a couple of years when Rivian and Tesla enter the pickup truck market. Ford only has a hybrid F-150 planned for 2020.

Via: Reuters:

Ford Motor Co said on Wednesday it will invest $500 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley’s Tesla Inc.

Ford said it will use Rivian’s “skateboard” – a chassis that bundles electric motor, batteries and controls – to build a new vehicle for North America. It did not provide details on what type of vehicle, and where or when it would be built.

Leave a Reply

You must be logged in to post a comment.