The presence of U.S-based car manufacturer Ford in the world of electric vehicles (EVs) is admittedly tiny. But to say that it’s non-existent would be an incorrect statement to make. They’re making small steps to immerse themselves into the EV space in ways that fit Ford seamlessly. They previously announced the planned development of a fully electric F-150 and a crossover inspired by their iconic Mustang. But more could perhaps be put into development sooner than expected.

Ford has recently announced their intentions to invest $500 million into Rivian, an EV startup company. In return, Ford will have a minority stake in Rivian.

This is said to because Ford sees this deal as a “significant opportunity” to put a new EV onto the market sooner than if this deal wasn’t in place.

With this investment, Rivian’s technology will be used in an upcoming EV that’s been designed by Ford.

It won’t affect the previously mentioned vehicles; rather, it’s for a whole new EV. Unfortunately for eager consumers, no other information as to what kind of vehicle it will be has been available. Early speculation had been that it was a pickup truck, but that rumour was promptly squashed. With neither Ford nor Rivian disclosing this information, consumers have been forced to wonder what both companies have in store for them.

As previously mentioned, this isn’t the only thing Ford has done in the EV space. In the past, they announced their commitment to developing other EVs to the tune of a staggering $11 billion. But the American car manufacturer has said that their partnership with Rivian will allow them to learn more about EVs now more than ever before.

When it comes to Rivian, this partnership is sure to be one of their most profitable. But it’s also not their only one. A few months prior, they announced a $700 million investment with corporate giant Amazon. They also received another partnership with German-born car manufacturer Volkswagen. Rivian is said to be developing more models for other companies, although that list of companies isn’t known. The CEO has explained that they’re currently focused on their newfound corporate relationships, as well as launching and executing their products properly.

Ford’s partnership with Rivian is sure to produce a high quality EV that many consumers will enjoy driving. The only questions are what kind of vehicle will it be, and when it will be available for consumers to purchase. It will take plenty of time before those questions and many more will be answered.

 

Until then, consumers can continue to speculate what will come from Ford and Rivian working together.

Source: The Verge

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