Ford Motor to Put $500 Million Into Electric Vehicle Startup Rivian
April 24th, 2019With 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.