Ford and Rivian cancel plan to jointly develop an EV

Ford and Rivian cancel plan to jointly develop an EV

Ford and Rivian have actually deserted a strategy they needed to collectively establish an EV together. In an interview with Automotive News, Ford CEO Jim Farley stated the car manufacturer will go it alone as it intends to produce 600,000 cars each year by the end of 2023.

When the business invested $500 million in Rivian in 2019, the 2 stated they would interact to produce a Ford-branded EV including the start-up’s “skateboard” powertrain. In early 2020, the 2, mentioning the pandemic, canceled a Lincoln-branded EV At the time, they stated they still prepared to move forward with an “alternative automobile” based upon Rivian’s innovation. Now, that task will not move forward either.

” Right now, we have growing self-confidence in our capability to win in the electrical area,” Farley informed Automotive News “When you compare today with when we initially made that financial investment, a lot has actually altered: about our capability, about the brand name’s instructions in both cases, and now it’s more specific to us what we need to do.”

According to Farley, part of the factor Ford and Rivian chose not to progress with the task is the intricacies of weding their software and hardware together. The business state the choice has actually not impacted their relationship.

” As Ford has actually scaled its own EV technique and need for Rivian automobiles has actually grown, we’ve equally chosen to concentrate on our own tasks and shipments,” a representative for Rivian informed Engadget. “Our relationship with Ford is a vital part of our journey, and Ford stays a financier and ally on our shared course to an energized future.”

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