Apr 24, 2019 | DEARBORN, Michigan

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.

Rivian’s skateboard platform.

Rivian already developed two clean-sheet vehicles. Vehicles with adventurers at the core of every design and engineering decision. The company’s launch products. They are, five-passenger R1T pickup and seven-passenger R1S SUV. These will deliver up to 400-plus miles of range. As well as provide an unmatched combination of performance, off-road capability and utility. Starting in late 2020. 

In conclusion, Ford intends to develop a new vehicle using Rivian’s flexible skateboard platform. This is in addition to Ford’s existing plans to develop a portfolio of battery electric vehicles. As part of its previously announced $11 billion EV investment. So Ford already has confirmed two key fully electric vehicles. That’s a Mustang-inspired crossover coming in 2020 and a zero-emissions version of the best-selling F-150 pickup.

As a result, Rivian remains an independent company. Therefore, the investment is subject to customary regulatory approval. In conclusion and Ford’s investment, Joe Hinrichs, Ford’s president of Automotive, will join Rivian’s seven-member board.

Source: Ford Motor Company