Friday, 24 March, 2023

Ford Sells Majority Stake in Rivian: Electric Vehicle Maker Acquired for Major Investment

<p>Ford sells Majority Stake in Rivian: Ford has sold a majority stake in electric vehicle (EV) startup Rivian to an unnamed group of investors. The deal values Rivian at $27 billion, up from its $19 billion valuation in 2020. The investment will help Rivian speed up development and production of its EVs, including the R1T pickup truck and the R1S SUV. Rivian&#39;s partnership with Ford started in 2019 and the two companies plan to work together on future EV projects.</p>