Ford and Rivian no longer plan jointly developed EVs

DMCA / Correction Notice
- Advertisement -


Ford is doing its job.

- Advertisement -

Talk about a massive change in a matter of two years. Ford CEO Jim Farley said in an interview Automotive News On Friday the automaker no longer plans to jointly build an electric vehicle with Rivian. Ford was an early investor in the beloved startup, which is now delivering its first electric trucks, but Farley said the Blue Oval will no longer need Rivian’s help.

advertisement

On top of that, Farley also said last Friday that Ford is aiming for No. 2 EV Manufacturer In the US in just two years. Car manufacturer has F-150 Lightning, e-transit, Mustang Mach-E and many more EVs of the future To come because it pursues such a goal. The go-it-alone strategy scraps at least two vehicles Ford once planned with the Rivian. the first was an Electric Lincoln And the second remains unknown after the demise of Lincoln E.V.

Even so, Ford and Rivian would not be direct rivals as both have a similar interest in the success of the latter. Ford’s initial stake in Rivian was a $500 million bet, According to Automotive News, Ford currently holds a $1.2 billion stake in Rivian. Rivian did not immediately respond to a request for comment on the relationship going forward, but Farley said in the interview that the Blue Oval sees the startup as a sibling, “since we are an investor.”

- Advertisement -

“Rivian is a special case for us,” he said.

Ford said in a statement, “We are seeing exceptional demand for our first round of EVs – the F-150 Lightning, Mustang Mach-E and E-Transit – and our team is focused on rapidly scaling up and reducing complexity to laser- So, while Rivian is doing a lot of interesting stuff and we’ve got a lot of respect for RJ [Scaringe, Rivian CEO] And their team, we love where we are at, and both Ford and Rivian agree that we will not pursue any kind of joint vehicle development or platform sharing.”

- Advertisement -

Stay on top - Get the daily news in your inbox

Recent Articles

Related Stories