Published: April 24, 2019
Source: Ford Motor Co.
RJ Scaringe, Rivian founder and CEO, and Ford Executive Chairman Bill Ford announce a $500 million Ford investment in Rivian.
In February, Rivian raised $700 million in a funding round led by Amazon, following rumors that GM would also invest.
Ford said it intends to develop a new vehicle using Rivian’s skateboard platform as an addition to its existing plans to develop a portfolio of battery electric vehicles. The company has already 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, as part of its $11 billion EV investment.
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