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Rivian Gets $500 Million Investment From Ford
Following the major investment made by Amazon, Ford has announced a $500 million investment into Rivian.
Rivian, the maker of the R1T pickup truck and R1S SUV, is solely focused on electric adventure vehicles. For now, that's limited to the truck and SUV, but in the future, several more models are planned.
The key point from the press release is:
Ford to build all-new battery electric vehicle using Rivian's flexible skateboard platform
It's not all that surprising to find out that Ford is investing in Rivian. If you recall, Ford has been testing electric F-150s. In addition, Rivian was camouflaging its R1T pickup truck under F-150 bodies. So, it's come full circle now with the two companies announcing this investment deal.
Statements from the press release
R.J. Scaringe
"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."