As it turns out, Ford doesn’t need Rivian’s help breaking into the electric vehicle game after all. The two automakers have scrapped their plans to collaborate on a new EV.
According to Ford CEO Jim Farley, in an interview with Automotive News, they’re so confidant that they can take over the electric market on their own, that they’ve cancelled their previous plan of working with EV startup Rivian on a joint vehicle. Ford is so confident, in fact, that they’re doubling their existing EV factory capacity, aiming to achieve 600,000 by 2023.
A few years ago, Ford invested a whopping $500 million into Rivian, with the overall plan of using their electric platform as a base for their own EVs. They then came back and raised that investment to an even higher $1.2 billion.
Rivian isn’t upset, though. The company put out their own statement, saying that both of them “mutually decided to focus on our own projects and deliveries.”
And maybe Ford is right. The Mustang Mach-E is the fourth best-selling electric car on the market, and with plans of an electric F-150 pickup, they're gearing up to bring their heaviest hitters into the electric era. Should things go well, they could absolutely become one of the biggest electric automakers in the near future.
We’ll know for sure in due time.
Ford Drops Rivian Partnership to Make Their Own Electric Cars
Posted By: LizardRock | 0 Comment(s) Posted On: Nov 22, 2021 @ 04:43 PM