Ford Motor Company has made a major investment in Rivian, a Michigan-based electric vehicle producer that made waves at last year's Los Angeles Auto Show with its striking, long-range, all-electric R1S SUV and the R1T pickup truck.
The Blue Oval is pouring $500 million into the brand and has confirmed via an official release that it will develop an exclusive, new electric vehicle from a Rivian platform. According to Ford, this new vehicle will exist in addition to its current battery electric plans, which include an all-electric, Mustang-inspired crossover and an electrified F-150 pickup.
During a conference call with reporters, Ford confirmed that Rivian will assemble the skateboard platform at its Normal, Illinois factory, but that the Blue Oval would handle production. The automaker didn't go so far as to say where final assembly would be or for what brand or market it would compete in. But the two companies confirmed that the Ford vehicle wouldn't necessarily compete with Rivian's entries.
Fordís Joe Hinrichs is also set to join Rivianís board of directors as part agreement.
ďFord 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," Rivian boss RJ Scaringe (above, left) said.
In a conference call with reporters, Scaringe confirmed his company had discussed partnerships with other automakers. Rumors had put GM in the running, and Scaringe said there could be applications with other partners down the road, but that it was focused on executing with Ford.