Ford is investing $500 million in Rivian Automotive, and will build an electric vehicle on the startup's platform
RJ Scaringe, founder and chief executive officer of Rivian Automotive, smiles during a Bloomberg Technology television interview in San Francisco, California, U.S., on Thursday, Aug. 23, 2018. Scaringe discussed the company's electric-vehicle plans.
In February, Rivian accepted a $700 million investment from Amazon, bringing the total amount of capital investment in the company to to $1.7 billion. Rivian has declined to state its actual valuation. Like many EV makers, Rivian what is called a skateboard as the foundation of its vehicles, incorporating a battery pack, drive units, suspension, braking and thermal system into the vehicle’s chassis.
Bill Ford, chairman of Ford Motor Company, speaks to the media at the 2019 North American International Auto Show in Detroit, Michigan.In an interview with the Wall Street Journal on Tuesday, Bill Ford, the automaker’s executive chairman, said he was impressed with Rivian’s technology.
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