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takyon [soylentnews.org] writes:

Ford invests $500 million in electric pickup startup Rivian, will make an EV together [electrek.co]

Ford announced today that it is investing $500 million in electric pickup startup Rivian and the automaker will use the startup's platform to make an all-electric vehicle.

Just two months ago, Rivian, an electric vehicle startup better known for developing an electric pickup, announced that it raised a $700 million round of investment led by Amazon [electrek.co]. At the time, there were rumors that GM was going to participate in the round, but it didn't end up happening.

Now we learn that another big automaker is actually investing in the company: Ford. [...] Along with the investment, Ford confirmed that it will use Rivian's electric platform to develop a Ford-branded all-electric vehicle.

Also at CNBC [cnbc.com].

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