Ford Motor Company and U.S. automotive technology company, Rivian, will collaborate to develop a next-generation battery electric vehicle with $500 million investment from Ford, the companies announced Wednesday.
Ford intends to develop a new vehicle using Rivian's flexible skateboard platform - a car's chassis, whose design allows for a more efficient driving experience and reduces assembly line complexity for carmakers as it can be used in a variety of vehicle models.
The latest investment is in addition to Ford’s existing plans to develop a portfolio of battery electric vehicles.
Ford announced in January last year that it would invest $11 billion by 2022 to launch 40 hybrid and fully electric vehicles.
Rivian already has two clean-energy vehicles under its belt, the five-passenger pickup and seven-passenger SUV. They will deliver over 400 miles (644 km) of range and provide high performance and off-road capability starting in late 2020.
By Zeynep Beyza Kilic