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Ford's Lincoln to partner with Rivian to make electric vehicles

Stock MarketsJan 29, 2020 01:04PM ET
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(Reuters) - Ford Motor (NYSE:F) Co owned Lincoln Motor on Wednesday confirmed its plans to make battery-powered electric vehicles in partnership with Ford-backed startup Rivian.

The vehicle, to be built on a custom electrified chassis that resembles a skateboard, is part of Ford's investment of more than $11.5 billion electrification plans that include the roll-out of Mustang Mach-E and electric F-150 pickups.

Founded in 2009, Rivian closed a $1.3 billion investment round in December last year, and counts e-commerce giant Amazon.com Inc (NASDAQ:AMZN) as one of its investors.

Amazon has ordered 100,000 electric delivery vehicles from the startup, the first of which will be delivered in 2021 and built in Normal, Illinois.

Reuters reported in November, a battery-powered Lincoln SUV, due in mid-2022, would be the first Ford vehicle to be built on the Rivian skateboard.

Ford's Lincoln to partner with Rivian to make electric vehicles
 

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