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.



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