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Ford and Rivian scrapping plans to co-develop EV

Ford and Rivian scrapping plans to co-develop EV


Ford CEO Jim Farley confirmed to Automotive News that the firm will now proceed with increasing global EV production to 600,000 annually by 2023.

"Right now, we have growing confidence in our ability to win in the electric space," Farley said. "When you compare today with when we originally made that investment, so much has changed: about our ability, about the brand's direction in both cases, and now it's more certain to us what we have to do."

 

Farley also stated that Ford will invest in Rivian. “ We love their future as a company, but currently, we are going to develop our own vehicles, “ he said, also stating that pairing Rivian’s Architecture with its own would be difficult. “We have slightly different business models, “he added. “ We praise what they are into but we are going to go our separate ways.”   

Rivian also told about the break-in a statement: “As Ford has scaled its own EV Strategy and demand for Rivian vehicles has grown, we’ve together decided to focus on our own plans, projects and also deliveries.

 

“Our relationship with Ford is an important part of our journey, and Ford remains an investor and ally on our shared path to an electrified future.”

In the year 2019, the American leading company invested $500 million (£374m) into its compatriot start-up which is now has a higher value than Ford itself despite it hasn’t recorded any profits in the year 2021 so far.

 

Ford is aiming to produce 600,000 EVs per year by the end of 2023. In Europe, it will bring into use the Volkswagen Group’s MEB platform as a part of the shared-development agreement which will have Ford provide the basis for Volkswagen’s next-gen commercial vehicles.

Initially, this year, for unveiled an updated Tourneo MPV that was based on the new Volkswagen Caddy as the first model built. As a result of this partnership, it will be built its first MEB-based electric car in 2023.

 

Last year, plans for Ford and Rivian to produce a Lincoln-branded EV fell through, it’s because of the impact of the pandemic, COVID-19.    

Ford CEO Jim Farley confirmed to Automotive News that the firm will now proceed with increasing global EV production to 600,000 annually by 2023.

"Right now, we have growing confidence in our ability to win in the electric space," Farley said. "When you compare today with when we originally made that investment, so much has changed: about our ability, about the brand's direction in both cases, and now it's more certain to us what we have to do."

 

Farley also stated that Ford will invest in Rivian. “ We love their future as a company, but currently, we are going to develop our own vehicles, “ he said, also stating that pairing Rivian’s Architecture with its own would be difficult. “We have slightly different business models, “he added. “ We praise what they are into but we are going to go our separate ways.”   

Rivian also told about the break-in a statement: “As Ford has scaled its own EV Strategy and demand for Rivian vehicles has grown, we’ve together decided to focus on our own plans, projects and also deliveries.

 

“Our relationship with Ford is an important part of our journey, and Ford remains an investor and ally on our shared path to an electrified future.”

In the year 2019, the American leading company invested $500 million (£374m) into its compatriot start-up which is now has a higher value than Ford itself despite it hasn’t recorded any profits in the year 2021 so far.

Ford is aiming to produce 600,000 EVs per year by the end of 2023. In Europe, it will bring into use the Volkswagen Group’s MEB platform as a part of the shared-development agreement which will have Ford provide the basis for Volkswagen’s next-gen commercial vehicles.

Initially, this year, for unveiled an updated Tourneo MPV that was based on the new Volkswagen Caddy as the first model built. As a result of this partnership, it will be built its first MEB-based electric car in 2023.

Last year, plans for Ford and Rivian to produce a Lincoln-branded EV fell through, it’s because of the impact of the pandemic, COVID-19.