Ford will build an electric vehicle using EV startup Rivian’s tech

The Ford Motor Company has announced a $500 million investment in EV startup Rivian, and it will build an electric vehicle using Rivian’s tech, the companies announced on Wednesday. The new vehicle won’t affect the two EVs Ford has been developing, an electric F-150 and Mustang-inspired crossover, Ford CEO Jim Hackett said on a call with investors and reporters.

We don’t have all the answers, and we don’t pretend to.” Hinrichs said there’s “a lot we can learn” from partnering with Rivian. He will also join Rivian’s board of directors. Hinrichs said Ford sees the deal with Rivian as a “significant opportunity” to get a new EV on the road faster and cheaper than if the automaker had developed another one of its own from the ground up.

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