Ford invests $ 500 million in Rivian to expand its electric vehicle portfolio

Ford invests $ 500 million in Rivian to expand its electric vehicle portfolio

Rivian, the technology company that develops products and services for sustainable mobility in the world of automobiles, has announced that it has received an investment of $ 500 million from US car manufacturer Ford.

In addition to the investment, companies will work together to develop a new generation of electric vehicles to the US vehicle manufacturer using the high-tech product called Rivian's skateboard platform.

Rivian's founder and CEO RJ Scaringe describes the strategic partnership between the two companies as an important milestone. The fact that Rivian is able to benefit from the car manufacturer's resources and network as well as the investment from Ford supports these words. On the other hand, using the advanced technological structure of Ford's initiative to create an opportunity to increase competitiveness in the automobile industry means that there is a win-win relationship between them.

In the meantime, the agreement is part of a $ 11 billion package for Ford's electric vehicle investments. Within this package, Ford has already approved the production of two electric vehicles with Rivian. One of the vehicles expected to be released in 2020 was inspired by the Mustang. The other will be the zero-emission version of the F150 pickup, one of Ford's best-selling models in the US.

Founded in Michigan in 2009, Rivian has strong investors like Amazon, Standard Chartered Bank behind it. With a $ 700,000 investment from Amazon in February and the latest source money from Ford, Rivian increased its total investment to $ 1.4 billion.

Finally, let us share the knowledge that Rivian will continue as an independent company despite the investments.

Leave a Reply

Your email address will not be published. Required fields are marked *

The man tweeted at the door of the toilet.

Pop Culture Graphics Back to the Future Poster