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

Discussion in 'Rivian General Discussions' started by Administrator, Apr 24, 2019.

  1. Administrator

    Administrator Administrator

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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
     
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  2. krcossin

    krcossin Member

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    #2 krcossin, Apr 24, 2019
    Last edited: Apr 24, 2019
    Wow, that come out of nowhere.

    Now looking at the mules it all comes together.

    Ford employee discount!
     
  3. Electronaut

    Electronaut Active Member

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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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  4. kumarczar

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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?
     
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  5. SpinDoc7

    SpinDoc7 Member

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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.
     
  6. DocTwinkie

    DocTwinkie Well-Known Member

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    YES PLEASE!
     
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  7. 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?
     
  8. Jason's Rivian

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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.).
     
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  9. JG Rivian

    JG Rivian Member

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

    Darrellbu New Member

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    For the same reason Samsung makes screens for other manufacturers including Apple while doing very well selling their own flagship devices.
     
  11. kumarczar

    kumarczar Member

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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.
     
  12. Darrellbu

    Darrellbu New Member

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    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?
     
  13. Hydro

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

    binny Member

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    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.
     
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  15. CappyJax

    CappyJax Well-Known Member

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    Who would buy an Audi when it is just on a VW platform?
     
  16. stank65

    stank65 Well-Known Member

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    Yes, it could result in a lower end work truck EV (Ford version) and a high-end Rivian based vehicle. As the pricing improves for the skateboard it will move down to the lower cost/higher volume models.
     
  17. stank65

    stank65 Well-Known Member

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    I’ll have to find the article, but there was a great article about the mindset that Rivian could take being partnered with Amazon. The skateboard platform is an unprecedented opportunity for car manufacturing to become much more like the production of other pieces of technology like phones, computers etc. as stated above. Rivian wouldn’t be competing against itself, it would be winning both ways.
     
  18. DocTwinkie

    DocTwinkie Well-Known Member

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    It’s kinda hilarious that GM did the whole skateboard thing ages ago (2002) and just never saw it through.

    Doh!
     
  19. jimcgov3

    jimcgov3 Well-Known Member

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    That is 100% my thought too! It makes perfect sense. Half of the vehicle is the skateboard, and if Ford technicians are trained, why not use them as Service centers throughout the US.
     
  20. DocTwinkie

    DocTwinkie Well-Known Member

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    I will throw one wrench into this scenario. Firstly I think they should use Ford Service centers since they really have no other option to create a large network.

    That said this is a car competing with Land Rover level prices. When you buy a high end car like this a LOT of what you’re paying for is the white glove service.

    Land Rover comes to your house, drops off a nice loaner. BMW will do the same, often with some swag in the center console when they drop it back off. Go sit in a Mercedes dealership for a bit. Enjoy the free drinks, snacks, etc. then stop by your local Ford. Vending machine and a loaner with 100k miles on it if you’re lucky.

    The 5 star service this cars price tag demands isn’t present at a ford dealership.

    They may be better off using their Lincoln dealers especially the black label certified ones to service Rivians. If they use ford it will be nice to have at least some option for service but I bet people will get pretty upset taking their 100k Rivian in and being given the option to wait in the lobby or maybe have a focus to drive around. Lol.
     
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