Ford to Invest $500M in Rivian

Ford has agreed to invest $500 million in Rivian, an electric-car start-up that is widely seen as a potential rival to Tesla.
April 25, 2019

April 25, 2019—Ford Motor has agreed to invest $500 million in Rivian, an electric-car start-up that is widely seen as a potential rival to Tesla, according to The New York Times.

Rivian, based in Plymouth, Mich., plans to begin producing a pickup truck and a sport utility vehicle by the end of next year. Both will be powered by battery packs and are designed to be luxury vehicles that could appeal to many of the consumers drawn to Tesla and its upscale models. 

Ford is counting on the partnership to accelerate its efforts to field a range of electric cars and trucks, while it also pushes to streamline operations, slash costs and increase profitability.

Ford and Volkswagen are discussing ways of pooling efforts to develop self-driving technology. G.M. is already working with Honda on autonomous vehicles. That effort also has financial backing from SoftBank, the Japanese technology giant.

Subscribe to our Newsletters

Latest in Latest News

Enterprise/Tasco Auto Color
Enterprise and Tasco Logo
Enterprise and Tasco Auto Color continue to support the Collision Industry Foundation program at the second highest tier, Urgent Care, for donors that contribute $5,000-$10,000...
June 19, 2025
Adobe Stock 200930201
adobestock_200930201
The insurance company said it has control of its systems and hasn’t detected any evidence of ransomware or ongoing threat actor activity since the June 7 attack.
June 19, 2025
MSCRA
MSCRA Logo
The Mountain States Collision Repair Association’s first in-person event features four industry experts and networking opportunities at Downhill Brewing in Parker, Colorado.
June 19, 2025