Ford is investing $500 million in electric pickup truck maker Rivian, working together to develop a new battery plug-in vehicle for Ford.
The joint effort with Rivian is in addition to Ford’s plans to work with Volkswagen to develop a number of vehicles, including electric ones.
Company executives said Ford will still move ahead with its own electric vehicle development efforts, including a plug-in version of the Ford F-150 pickup. They said the vehicle it will develop with Rivian will be an addition to its future lineup.
Read the article at CNN.