Following the news of their scrapped EV plan with Lincoln, Ford announced that they will not be building an EV together.

Ford CEO Jim Farley referenced the automaker’s “growing confidence” to “win in the electric space” as reasoning to end the collaboration.

“When you compare today with when we originally made that investment, so much has changed: about our ability, about the brand’s direction in both cases, and now it’s more certain to us what we have to do. We want to invest in Rivian — we love their future as a company — but at this point we’re going to develop our own vehicles,” he told Automotive News, which first reported the collaboration was dead.



DETROIT – Ford Motor and Rivian no longer plan to co-develop an electric vehicle, the Detroit automaker said Friday.

The two companies initially announced development of a joint vehicle when the automaker invested $500 million in Rivian in 2019. They later confirmed it would be for Ford’s luxury Lincoln brand, before canceling those plans last year. Ford, at the time, said the automakers would still seek other opportunities to collaborate with one another.

Those plans also have now been scrapped, according to Ford spokesman Ian Thibodeau. He said the company retains a 12% stake in Rivian, which at the company’s IPO last week reached a value of more than $10 billion.

“We respect Rivian and have had extensive exploratory discussions with them, however, both sides have agreed not to pursue any kind of joint vehicle development or platform sharing,” Ford said in an emailed statement.

Rivian did not immediately respond for comment.

Ford CEO Jim Farley referenced the automaker’s “growing confidence” to “win in the electric space” as reasoning to end the collaboration.

“When you compare today with when we originally made that investment, so much has changed: about our ability, about the brand’s direction in both cases, and now it’s more certain to us what we have to do. We want to invest in Rivian — we love their future as a company — but at this point we’re going to develop our own vehicles,” he told Automotive News, which first reported the collaboration was dead.