Ford has announced its intention to invest $500 million in the American Rivian, which is developing electric vehicles. It is also known that as a result of a strategic partnership between the companies, it is planned to develop a “completely new” electric vehicle, which will be produced under the Ford brand. Despite the fact that Rivian will continue to remain an independent company, Ford President Joe Hinrichs will become a member of the board of directors of the American manufacturer.
The partnership agreement promises to be beneficial for each of the parties. Rivian, whose cars have not yet gone on sale, will receive huge investments, which will certainly help continue the business. As for Ford, the company will be able to accelerate its transformation into an automaker focused on the production of vehicles with an electric powertrain. The invested funds will allow the use of a platform that does not require development or modification to create electric vehicles. The company will use Rivian's platform to create zero-emission vehicles that will complement the family of vehicles Ford is developing independently.
The investment could pay handsome dividends for Ford in the future, giving it an edge over its major competitors within the electric vehicle market.
Source: 3dnews.ru