Ford's $500M investment in Rivian to yield new electric vehicle

Ford Motor in another move to shore up its electrification efforts investing $500 million in electric vehicle startup Rivian and plans to build a battery EV using Rivian's flexible skateboard platform.

For Ford, the deal secures another ally to manage costs and development in a hyper-competitive space where it has so far lagged behind much of the competition. While rivals including GM and Tesla have introduced battery-powered vehicles, Ford's first long-range battery EV - a Mustang-inspired crossover - won't hit showrooms until 2020. Ford it's also planning a battery-powered F-150 pickup.

Ford executives declined to say what type of vehicle the company would develop on Rivian's skateboard platform, where it would be built or when it would go on sale. They said it would not be one of the two battery EVs Ford has already announced.

I dirigenti di Ford non hanno voluto dire quale tipo di veicolo verrà sviluppato sulla piattaforma skateboard di Rivian, dove sarà costruito e quando sarà in vendita, limitandosi a confermare che non sarà stato uno dei due EV già annunciati.

Ford Ceo Jim Hackett said the Rivian investment was in addition to Ford's $11 billion financial commitment to electrifying its lineup through 2022.