Ford first invested $500 million in Rivian in 2019.
At the time they also announced that they'll be using Rivian's skateboard platform for Ford's cars. Later on that has been scrapped.
So why do they continue investing?
I don't really know but it might be an option for future collaboration / licensing Rivian's IP.
Rivian has been working on EV technology since 2009. Ford... not so much.
I think the reason you see so many EV announcements from Ford (and GM and Honda and Mercedes and...) in 2021 is because they all suddenly realized they need to press a panic button.
However, you don't just build battery / electric drive train expertise overnight so Ford might be keeping their options open for collaborating with Rivian in the future.
At the time they also announced that they'll be using Rivian's skateboard platform for Ford's cars. Later on that has been scrapped.
So why do they continue investing?
I don't really know but it might be an option for future collaboration / licensing Rivian's IP.
Rivian has been working on EV technology since 2009. Ford... not so much.
I think the reason you see so many EV announcements from Ford (and GM and Honda and Mercedes and...) in 2021 is because they all suddenly realized they need to press a panic button.
However, you don't just build battery / electric drive train expertise overnight so Ford might be keeping their options open for collaborating with Rivian in the future.
https://media.ford.com/content/fordmedia/fna/us/en/news/2019...