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Ford and Rivian cancel plans to jointly develop an electric vehicle

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RJ Scaringe, Rivian founder and CEO, and Ford Executive Chairman Bill Ford announce a $500 million Ford investment in Rivian.

Source: Ford Motor Co.

DETROIT – Ford Motor and Rivian no longer plan to co-develop an electric vehicle, the companies confirmed Friday.

The two companies initially announced development of a joint vehicle when the automaker invested $500 million in Rivian in 2019. They later said it would be for Ford’s luxury Lincoln brand, before canceling those plans last year. Ford, at the time, said the automakers would still seek other opportunities to collaborate with one another.

Those plans also have now been scrapped, according to Ford spokesman Ian Thibodeau. He said the…



Source cnbc.com

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