Ford invests $500 million in electric car startup Rivian

On Wednesday morning, Ford announced that it will invest $500 million in the electric vehicle startup Rivian. Assuming regulatory approval, the two will form a strategic partnership, with Ford taking a minority stake in Rivian. Joe Hinrichs, Ford's president of automotive, will get a seat on Rivian's board, but more importantly, Ford will use Rivian's battery EV platform to build a new Blue Oval-badged BEV. "This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility.
Read more: https://arstechnica.com/cars/2019/04/ford-invests-500-million-in-electric-car-startup-rivian/?source=Snapzu