Ford to build all-new battery electric vehicle using Rivian’s flexible skateboard platform.
The investment is subject to customary regulatory approval. Ford’s Joe Hinrichs to join Rivian’s board of directors.
DEARBORN, Mich., April 24, 2019 –
Rivian announcing an equity investment of $500 million from Ford Motor Company. In addition to the investment, the companies have agreed to work together. All to develop an all-new, next-generation battery electric vehicle. That’s for Ford’s growing EV portfolio. Thereby using Rivian’s flexible skateboard platform.
Source: Ford Motor Company