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Ford invests $ 500 million in Amazon backed electric car starting Rivian for new vehicle




Ford is investing $ 500 million in launching electric vehicles Rivian, and will sell a vehicle built on the company's platform over the next few years, the companies announced Wednesday.

Rivian revealed his own all-electric pickup and SUV models at the Los Angeles Auto Show in November with plans to put them into production late next year at the factory in Normal, Ill. At that time, the company said it was open for licensing the technology to other brands.

Both models are built on a shared "skateboard" style chassis that incorporates fuel and battery packs and can be modified to accommodate a variety of body types.

Rivian recently completed a $ 700 million investment round led by Amazon and was allegedly in discussions with General Motors to create a similar partnership to the one forged with Ford.

ELECTRIC FORD F-150 SPOTTED:

Ford CEO Jim Hackett did not reveal the type of vehicle to be created or when I want to go on sale but confirmed that it will be in addition to the electric Mustang inspired The SUV and the Ford F-150 automaker are currently under development.

"There is a lot we can learn from Rivian's clean sheet approach," said Ford President Joe Hinrichs.

Rivian's first two models have four electric motors, air suspension systems and promise a charging range as high as 400 miles. Both are targeted at the premium segment and are expected to start at $ 69,000.

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