Ford invests $500M in electric pickup maker Rivian, will use platform for all-new vehicle

Rivian Electric Truck

Ford is getting a little deeper in vehicle electrification, announcing Wednesday a $500 million investment in electric upstart Rivian.

The companies have agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford’s growing electric vehicle (EV) portfolio that will use Rivian’s skateboard platform.