Photo: Shantanu Goyal / Unsplash
Ford and Rivian will no longer build electric vehicles together as has been suggested during the year . This was expressed by a Blue Oval spokesperson to Reuters , ensuring that both companies have explored ways to collaboration, but have not settled on model development: “We respect Rivian and have had extensive exploratory discussions with them. However, both parties agreed not to pursue any type of joint vehicle development or platform sharing. ” In addition to the carrier, Jim Farley, CEO of Ford, has confirmed that both companies will not collaborate in the way that was believed. In that sense, all rumors about it have been dismissed.
The news is surprising, especially because of the relationship between these companies, a relationship that occurred after Ford made a large investment in Rivian, as did Amazon . This relationship has been strengthened as a result of the incredible public offer that Rivian achieved and that led to traded with sudden rises in its shares to become the third most valuable manufacturer in the world, after Toyota and Tesla, just a week after going public.
Despite the decision made, with a 12% stake in Rivian, it is likely that Ford will continue to share in some way with this startup which has become the first to produce an all-electric pickup in America , winning the battle in this segment against Tesla and Ford itself, which launched its F – 150 Lightning in May, another electric truck whose production has been crashed due to a shortage of semiconductor chips.
Just as it surpassed Ford in the battle to produce the first electric truck, with its rise to the top of the auto industry, Rivian has also left it behind in value, along with other manufacturers who have many years of experience . However, this streak of successes does not seem to impress Elon Musk, CEO of Tesla, who spoke a few days ago on Twitter about Rivian’s achievements. Despite not dismissing what happened, the businessman believes that Rivian must “manage to maintain high production and a balanced cash flow” in the coming years to be considered valuable, something that Tesla has achieved since its public offering.
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