Ford invests 500 million in Rivian for future electric car
On Wednesday, American giant Ford announced it will invest 500 million dollar in the new electric pickup truck and SUV brand, Rivian. Their aim is to develop and build as quickly as possible a new Ford using the Rivian ‘skateboard’ underpinnings. This action is part of Ford’s recent 11 billion dollar investment plan for future electric vehicles.
After Amazon, the Ford Motor Company has decided to invest in electric vehicle newcomer, Rivian. Beating General Motors to the spot, the blue oval will be investing 500 million euro in the young EV company. Ford CEO, Jim Hackett, announced on Wednesday that this investment does not question the cooperation for electric cars with Volkswagen.
One of the major advantages of the new R1T pickup truck and R1S SUV from Rivian is their chassis. Nicknamed ‘skateboard’, this platform incorporating axles, suspensions, electric motors and batteries underpins both Rivian vehicles.
Lurking behind its important investment is the intention of Ford to use that ‘skateboard’ platform for one of their future electric vehicles. Rivian would build the platform and Ford would be in charge of the rest of the assembly. “It’s an opportunity for Ford in terms of costs and speed”, underlines a Ford executive, “speed is very important in the equation, but we’re convinced that by using Rivian’s skateboard we’ll be able to go quicker and save some money along the way.”
11 billion dollar for EV
In addition to the Rivian based vehicles, Ford has already begun development of two other electric vehicles. The first to come will be an electric crossover version of its Mustang sports car for 2020. The second one will be an electric version of its most popular car, the F-150 pickup truck.
Although Rivian’s SUV and pickup are set to hit the showroom floors in 2020, both carmakers make sure that the fruit of their collaboration will keep each brand’s DNA. The skateboard is said to be flexible. In its current state, it’s equipped with four electric motors producing a total of 750 hp. With a battery pack of up to 180 kWh, range is estimated at 640 km.