Ford invests $500M in Rivian! Partnership to deliver all-new Ford EV

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Rivian Announces $500 Million Investment from Ford; Partnership to Deliver All-New Ford Battery Electric Vehicle

Ford and Rivian form strategic partnership through $500 million minority investment

• Ford to build all-new battery electric vehicle using Rivian’s flexible skateboard platform

• The investment is subject to customary regulatory approval; Ford’s Joe Hinrichs to join Rivian’s board of directors

DEARBORN, Mich., April 24, 2019 – Rivian today announced an equity investment of $500 million from Ford Motor Company. In addition to the investment, the companies have agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio using Rivian’s skateboard platform.

“This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility,” said RJ Scaringe, Rivian founder and CEO. “Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry’s earliest advocates, and we are excited to use our technology to get more electric vehicles on the road.”

“We are excited to invest in and partner with Rivian,” said Bill Ford, Ford’s executive chairman. “I have gotten to know and respect RJ, and we share a common goal to create a sustainable future for our industry through innovation.”

Rivian already has developed two clean-sheet vehicles with adventurers at the core of every design and engineering decision. The company’s launch products – the five-passenger R1T pickup and seven-passenger R1S SUV – will deliver up to 400-plus miles of range and provide an unmatched combination of performance, off-road capability and utility, starting in late 2020.

“As we continue in our transformation of Ford with new forms of intelligent vehicles and propulsion, this partnership with Rivian brings a fresh approach to both,” said Jim Hackett, Ford president and CEO. “At the same time, we believe Rivian can benefit from Ford’s industrial expertise and resources.”

Ford intends to develop a new vehicle using Rivian’s flexible skateboard platform. This is in addition to Ford’s existing plans to develop a portfolio of battery electric vehicles. As part of its previously announced $11 billion EV investment, Ford already has confirmed two key fully electric vehicles: a Mustang-inspired crossover coming in 2020 and a zero-emissions version of the best-selling F-150 pickup.

Rivian remains an independent company. The investment is subject to customary regulatory approval. Following Ford’s investment, Joe Hinrichs, Ford’s president of Automotive, will join Rivian’s seven-member board.

Source: Joint press release from Rivian and Ford --
https://media.rivian.com/rivian-ann...eliver-all-new-ford-battery-electric-vehicle/
https://media.ford.com/content/fordmedia/fna/us/en/news/2019/04/24/rivian-500-million-investment-ford.html?cks=&emailid=Article Alert Ford
 

krcossin

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Wow, that come out of nowhere.

Now looking at the mules it all comes together.

Ford employee discount!
 
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Electronaut

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Great news for Rivian's financial situation! GM must be pissed :headbang: Ford must not have asked for exclusivity since that's one of the reasons Scaringe cited for the GM negotiations failing.

Wonder what EV Ford will build on the skateboard architecture??
 

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If Rivian give out their skateboard architecture and technology to other companies that already know how to build the rest of a vehicle, why or what incentive is left to purchase a Rivian as compared to a Ford vehicle that will be identical underneath but with more tried and tested body and interior components?
 

DocTwinkie

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This may clear up the "designated Rivian Service Centers" question. Rural customers directed to go to selected Ford dealers for Rivian R1T, R1S service? Hmmmm.
YES PLEASE!
 

Electric Rivilution

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Interesting that Ford will be building an electric F-150 which will be competing with Rivian's R1T while also investing in the company. The electric F-150 won't be using the skateboard platform but I wonder if it'll feature any other Rivian technology?
 
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If Rivian give out their skateboard architecture and technology to other companies that already know how to build the rest of a vehicle, why or what incentive is left to purchase a Rivian as compared to a Ford vehicle that will be identical underneath but with more tried and tested body and interior components?
Maybe as part of the deal Ford has agreed not to use the skateboard platform for a pickup or SUV which will compete directly with the R1T or R1S, either permanently or for a certain number of years.

Interesting that Ford will be building an electric F-150 which will be competing with Rivian's R1T while also investing in the company.
I don't think the electric F-150 will really be competing directly with the R1T. One is an ICE vehicle adapted to be an electric vehicle while the other one is a ground-up EV. The F-150 being on an adapted platform won't be optimized for electricity unlike the R1T which will have the benefits of being an EV with a skateboard platform (advantages: battery capacity, range, drivetrain simplicity, etc.).
 

JG Rivian

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Bet Ford was too far down the electric F-150 rabbit hole to pull development there.
 

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If Rivian give out their skateboard architecture and technology to other companies that already know how to build the rest of a vehicle, why or what incentive is left to purchase a Rivian as compared to a Ford vehicle that will be identical underneath but with more tried and tested body and interior components?
For the same reason Samsung makes screens for other manufacturers including Apple while doing very well selling their own flagship devices.
 

kumarczar

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Maybe as part of the deal Ford has agreed not to use the skateboard platform for a pickup or SUV which will compete directly with the R1T or R1S, either permanently or for a certain number of years.



I don't think the electric F-150 will really be competing directly with the R1T. One is an ICE vehicle adapted to be an electric vehicle while the other one is a ground-up EV. The F-150 being on an adapted platform won't be optimized for electricity unlike the R1T which will have the benefits of being an EV with a skateboard platform (advantages: battery capacity, range, drivetrain simplicity, etc.).
For the same reason Samsung makes screens for other manufacturers including Apple while doing very well selling their own flagship devices.
You make an excellent point there, sadly the turnout for Samsung in that situation is that, Apple who uses their screen technology, now sells more phones and have dominated the segment. Similarly, I would hate to see Rivian being left behind despite them being the ones who are allowing rivaling companies to achieve success.
 

Darrellbu

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You make an excellent point there, sadly the turnout for Samsung in that situation is that, Apple who uses their screen technology, now sells more phones and have dominated the segment. Similarly, I would hate to see Rivian being left behind despite them being the ones who are allowing rivaling companies to achieve success.
According to Forbes, Samsung has a global 27% market share with smartphones compared to Apple's 24% as of 09/2018. These numbers don't even reflect that all of Apple's phones use Samsung screens. In a similar scenario, how would Rivian get left behind if they are supplying niche hardware to manufacturers while outfitting that same platform with their own ideal vehicles; again, just like Samsung has mastered?
 

Hydro

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New meaning to those F150 bodied prototypes Rivian was using to test the skateboard platform...?
 

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If Rivian give out their skateboard architecture and technology to other companies that already know how to build the rest of a vehicle, why or what incentive is left to purchase a Rivian as compared to a Ford vehicle that will be identical underneath but with more tried and tested body and interior components?
Not only that but Ford's product might be cheaper. Their market is already established....middle-class workers needing something practical, not a roof that can change colors.
 

CappyJax

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If Rivian give out their skateboard architecture and technology to other companies that already know how to build the rest of a vehicle, why or what incentive is left to purchase a Rivian as compared to a Ford vehicle that will be identical underneath but with more tried and tested body and interior components?
Who would buy an Audi when it is just on a VW platform?
 
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