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.
As I’ve written before:
Research from 2017 shows us that 28.9% of all greenhouse gas emission in the US was due to modern transportation.
These numbers vary across the world, but the underlying truth is very clear – we are slowly (but very surely) condemning our planet to a slow and painful death.
Our generation is also witnessing some of the more apparent consequences of the greenhouse effect: melting ice caps, the rise in global temperatures, wildfires, deforestation, and the extinction of so many species.
While luckily, we have come to our senses somewhat and have started trying to limit the damage we are doing, only time will tell if what we are doing is enough.
But let’s not adopt an apocalyptic view, and explore instead why electric vehicles are the future, and how they will help the environment
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