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Ford will invest $500 million in Tesla rival Rivian, joining Amazon and going head-to-head with GM

April 24, 2019

On Wednesday, Ford announced a $500-million investment in the startup electric-vehicle maker Rivian.

In a statement, Ford and Rivian said they had “agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio using Rivian’s … platform.”

Neither company indicated whether that would be a pickup. Ford’s F-150 pickup has been the best-selling vehicle in the US for decades and the carmaker has said that it intends to electrify the truck.

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