This will come back to haunt Ford. They will use Rivian investment to hide their own financial poor performance. Rivian will crush the Ford F-150 market position and then the tailspin begins.
DETROIT — After going public this month, electric-vehicle startup Rivian Automotive is worth almost 50 percent more than one of its early big investors: Ford Motor Co.
But Ford believes it can soon add more value for shareholders than at any point in the past century with a plan to become the nation's second-biggest producer of EVs in two years. And Ford no longer thinks it needs Rivian's help to get there.
The two companies have scrapped plans to jointly develop an EV, Ford CEO Jim Farley told Automotive News. Ford already had canceled a planned Lincoln collaboration at the start of the coronavirus pandemic but still intended to work with Rivian on a different vehicle until recently