Ford is investing $ 500 million in Rivian

Until a few months ago, Rivian was unknown to the general public. Headquartered in Michigan, the Michigan-based company was first established in 2009 but was not acknowledged until last November's Los Angeles Motor Show, when it introduced the Rivian R1S and R1T, both electric vehicles. The first is a 750 hp electric SUV reminiscent of the Tesla Model X. But the surprise came with the R1T, because it's the first electric pickup on the market. A typical American car, with its big size and power, but with no combustion engine, and that makes it unique in its kind.

Several companies quickly saw the potential of this car. Amazon invested $ 700 million in February and Japanese tire producer Sumimoto did the same for $ 500 million. General Motors' interest in Rivian has increased since then and has just sparked off with Ford's $ 500 million investment.

“This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility,” said RJ Scaringe, Rivian founder and CEO. “Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry’s earliest advocates, and we are excited to use our technology to get more electric vehicles on the road.”

“As we continue in our transformation of Ford with new forms of intelligent vehicles and propulsion, this partnership with Rivian brings a fresh approach to both,” said Jim Hackett, Ford president and CEO. “At the same time, we believe Rivian can benefit from Ford’s industrial expertise and resources.”

Rivian expects its vehicles to begin marketing in the United States in 2020 and expand to other markets the following year, prices are starting from $ 68,000.

Ford will release the electric version of the popular F-150 pickup

America’s most popular pickup will soon be powered by electricity. The creators are releasing an upgraded version of the F-150 pickup. According to the...

Tesla Model X

Since 2014, 167 copies of the Tesla Model S are taxis at the Amsterdam Schiphol airport in the Netherlands. Now the taxi company BIOS-groep, has decided...

Tesla Model S 2020

Tesla intends to update its model range in the coming period with an improvement for Model S, according to sources inside the company quoted by CNBC....

Tesla Model X car crash on Highway 101 in Mountain View

The National Transportation Safety Board (NTSB) is investigating what could be the second fatal accident of a Tesla with the Autopilot mode connected. ...

Subscribe to my Newsletter

Add new comment