Ford makes 2 significant moves involving EV and cloud technologies
Rivian announced an equity investment of $500 million from Ford. In addition to the investment, the companies have agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio by using Rivian’s skateboard platform.
And on Tuesday, Ford and the creators of Autonomic — a transportation mobility cloud (TMC) — signed a multi-year, global agreement with Amazon Web Services (AWS), which will expand the availability of cloud connectivity services and connected car application development services for the transportation industry.
Cox Automotive pointed out the investment with Rivian places Ford among the largest investors in the privately held company. Experts mentioned Rivian has been in the spotlight recently, with “interesting” concept vehicles appearing at major auto shows and, more notably, an infusion of $700 million led by Amazon in February.
“Ford’s investment in Rivian is a smart one,” Autotrader executive analyst Michelle Krebs said in commentary distributed by Cox Automotive on Wednesday. “Ford has committed to producing numerous electrified vehicles in the future, including pickup trucks, and Rivian has an intriguing concept to get the job done. Rivian leverages Ford’s leadership, expertise and massive volume in pickup trucks as well as its vast distribution network.