Ford and Rivian not plan collectively developed EVs

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Ford’s doing its personal factor.


Ford

Speak about an enormous shift in a matter of two years. Ford CEO Jim Farley mentioned in an interview with Automotive Information Friday the automaker not plans to collectively construct an electrical car with Rivian. Ford was an early investor within the darling startup, which is now delivering its first electrical vans, however Farley mentioned the Blue Oval will not want Rivian’s assist any longer.

On high of that, Farley additionally mentioned this previous Friday Ford goals to be the No. 2 EV producer within the US in simply two years. The carmaker has the F-150 Lightning, E-Transit, Mustang Mach-E and lots extra future EVs to come back because it pursues such a aim. The go-it-alone technique scraps not less than two automobiles Ford as soon as deliberate with Rivian. The primary was an electrical Lincoln and the second stays unknown following the demise of the Lincoln EV.

Nonetheless, Ford and Rivian will not be direct rivals as the 2 have a standard curiosity within the latter’s success. Ford’s preliminary stake in Rivian was a $500 million wager. In keeping with Automotive Information, Ford has $1.2 billion staked in Rivian nowadays. Rivian didn’t instantly reply to a request for touch upon the connection transferring ahead, however Farley mentioned within the interview the Blue Oval views the startup as a sibling, “since we’re an investor.” 

“Rivian’s a particular case for us,” he mentioned. 

Ford added in an announcement, “We’re seeing extraordinary demand for our first spherical of EVs – the F-150 Lightning, Mustang Mach-E and E-Transit – and our staff is laser-focused on scaling quick and decreasing complexity. So, whereas Rivian is doing a number of attention-grabbing issues and we have nice respect for R.J. [Scaringe, Rivian CEO] and his staff, we like very a lot the place we’re at, and Ford and Rivian have each agreed we’ll not pursue any type of joint car growth or platform sharing.”

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