Ford and Rivian have permanently canceled plans for joint development of an electric vehicle. As we know, the Blue Oval House in 2019 made a first investment in Rivian of $ 500 million. At the same time, he announced plans to build a battery-powered vehicle together. A lot of speculation had been made about this car but already in 2020 the two companies announced that they had canceled the development of a battery-powered car to be marketed under the Lincoln brand.
Since then, no major news has emerged; on a possible Ford electric vehicle based on Rivian. Now, from the CEO of Ford comes the news that the manufacturer will not use Rivian technology for its electric cars. According to reports from Automotive News, the house of the blue oval would no longer have; need Rivian for his electrification project. Moreover, a lot is; changed in recent years, including Ford's strategy for the electric car industry. The builder & egrave; confident in his abilities and he prefers to focus on his own vehicles, architectures and solutions now.
Ford's electric investment plans are well known to everyone, so everyone knows. like its production goals and the news is not surprising at all. Rivian also wanted to speak about him on this issue, highlighting that it is a mutual decision . With increased demand for Rivian models and Ford's new electric strategy, the two companies they agreed to focus on their respective projects.
This is not, however, a & quot; divorce & quot ;. Indeed, Ford will continue & agrave; to remain a shareholder of Rivian as it considers the investment still strategic. The Blue Oval House owns about 12% of Rivian, a significant stake. At this point it will be; interesting to understand if you will arrive in the future to some form of mutual collaboration.
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