Rivian and Ford have canceled their electric car collaboration plans!!!

Rivian and Ford had planned to collaborate on an electric car, but those plans are now scrapped, according to Ford CEO Jim Farley.

The two companies had previously planned to collaborate on an electric Lincoln SUV, but all of those plans were scrapped the year before.

The two companies still plan to work together on an electric car. They’ve now officially said that they’ll concentrate on their own projects & deliveries and will abandon any plans for a collaborative model.

Rivian and Ford both claim that their decision to part ways is mutual, but that they are still “allies” toward electrification. In 2019, Ford invested 500 million dollars in Rivian, a stake that is now valued at 12 billion dollars thanks to the company’s massive IPO. And Rivian’s R1T pickup truck was developed using Ford F-150 models as test mules. The R1T and R1S have also benefited from Ford’s engineering & tooling assistance.

Regardless, both Rivian and Ford have a lot on their plate. Rivian has a huge order on Amazon that will require several years to complete, while Ford has a whole lot of Lightning orders to attempt to fulfill.

Both companies anticipate more demand for their products in the near future, so it now appears that all hands are on the board to try and ramp up production.

CNBC Television – Rivian and Ford drops EV partnership

#Electric car #Electric Cars #Electric Vehicle #Electric Vehicles #Electomo