According to Friday’s report by Reuters, Ford has abandoned plans to create an electric car with Rivian (startup EV manufacturer). Automotive News (subscription required). Ford CEO Jim Farley said ANInterview: The interview revealed that both companies had abandoned their plans for a joint development of an EV.
Farley claimed that Rivian is no longer needed by the company to make electric vehicles the second most popular in America. The goal Farley aims to accomplish within two years according to AN. According to Farley, the company believes in its electric vehicle future so much that it plans on doubling the EV factory production capacity to 600,000. This will be done by 2023. Farley said that Ford’s and Rivian’s respective electrical architectures played a role in their decision.
Ford had originally intended to construct a vehicle from Rivian’s electric vehicle skateboard platform.
Rivian R1T and R1S chassis
Ford had announced its plans to collaborate with Rivian on the development of an electric vehicle (EV) when it invested $500 million into the Michigan-based start-up in 2019. Later, the Blue Oval increased its investment to $1.2 million. Rivian’s initial public offering, last week, was much more expensive than Ford. ANAccording to reports, Ford’s Rivian stake grew by a factor ten following the IPO.
Rivian cancelled this second Ford Motor Company vehicle. The original plans also called for a Lincoln EV.
2022 Rivian R1T
Rivian released a statement stating that the two companies had “mutually determined to concentrate on our own projects, deliveries, and our relationship with Ford is important.”
Ford’s first electric car, the Mustang Mach-E (the fourth-best-selling EV), has been a success. Ford also intends to launch the 2022 Ford F-150 Lightning this summer, which could help it grab lots of customers considering the success of pickup trucks.
Ford is planning to launch a mass-market electric vehicle for Europe, in Germany, in 2023. Ford intends to speed up the pace of production towards the end of this decade. Ford announced in September that it would build electric trucks at its Blue Oval City facility in Tennessee. It also plans to produce five new EV models from Canada by mid-decade.
