RJ Scaringe, Rivian founder and CEO, and Ford Executive Chairman, Bill Ford
The Ford Motor Company is teaming up with Rivian to explore new vehicle propulsion options. Rivian has announced an equity investment of $500 million from Ford Motor Company and plans for the two companies to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio using Rivian’s skateboard platform.
Rivian already has developed two clean-sheet vehicles with adventurers at the core of every design and engineering decision. The company’s launch products – the five-passenger R1T pickup and seven-passenger R1S SUV – will deliver up to 400-plus miles of range and provide an unmatched combination of performance, off-road capability and utility, starting in late 2020.
Ford intends to develop a new vehicle using Rivian’s flexible skateboard platform. This is in addition to Ford’s existing plans to develop a portfolio of battery electric vehicles. As part of its previously announced $11 billion EV investment, Ford already has confirmed two key fully electric vehicles: a Mustang-inspired crossover coming in 2020 and a zero-emissions version of the best-selling F-150 pickup.
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Source: Ford Media Center
