Rivian Goes with Ford After GM Talks Break Down

After talks with GM stalled, Rivian has announced a $500 million deal with Ford that would see the Dearborn brand building an electric vehicle on the startup’s platform.

Rivian impressed the automotive world last year when it introduced its all-electric pickup and SUV. It drew the attention of investors like Amazon and GMthough the latter tie-up recently fell apart. 

Ford said Wednesday that the vehicle it co-develops with Rivian will be in addition to the portfolio of electrified vehicles it is planning before 2022. That portfolio comes from an $11 billion investment the company is making in electrification that will include the hybrid Mustang-inspired crossover it has been teasing since last year.

Despite the investment, Rivian will remain independent of Ford. If the deal is approved by regulators, Ford’s president of automotive, Joe Hinrichs, will join Rivian’s seven-member board.

Although we don’t know much more about the parameters of the Ford deal, GM was reportedly looking to get a jump on the electric pickup game with a Rivian deal.

Unfortunately, Bloomberg reported last week that talks between the companies had stalled. 

“As we have stated, we admire Rivian’s contribution to a future of zero emissions and an all-electric future,” GM spokesman Pat Morrissey said in a statement. “Talks occur on a regular basis in the auto industry between a variety of partners, but as a matter of policy we don’t discuss who, where or when those discussions might occur.”

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