Ford and Rivian cancel plan to collectively develop an EV – TechCrunch

Ford and Rivian have deserted a plan they needed to collectively develop an EV collectively. In an interview with Automotive Information, Ford CEO Jim Farley mentioned the automaker will go it alone because it goals to produce 600,000 autos per yr by the tip of 2023.
When the corporate invested $500 million in Rivian in 2019, the 2 mentioned they might work collectively to provide a Ford-branded EV that includes the startup’s “skateboard” powertrain. In early 2020, the 2, citing the pandemic, canceled a Lincoln-branded EV. On the time, they mentioned they nonetheless deliberate to go ahead with an “various car” based mostly on Rivian’s expertise. Now, that venture gained’t go ahead both.
“Proper now, we’ve got rising confidence in our potential to win within the electrical house,” Farley informed Automotive Information. “Whenever you evaluate at present with once we initially made that funding, a lot has modified: about our potential, concerning the model’s course in each circumstances, and now it’s extra sure to us what we’ve got to do.”
In accordance with Farley, a part of the rationale Ford and Rivian determined to not transfer ahead with the venture is the complexities of marrying their {hardware} and software program collectively. The businesses say the choice has not affected their relationship.
“As Ford has scaled its personal EV technique and demand for Rivian autos has grown, we’ve mutually determined to give attention to our personal tasks and deliveries,” a spokesperson for Rivian informed Engadget. “Our relationship with Ford is a crucial a part of our journey, and Ford stays an investor and ally on our shared path to an electrified future.”
Editor’s notice: This submit initially appeared on Engadget.

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