Jane Martin
@Jane.Martin · Updated 10 May. 2022

The Rivian R1T pickup truck is touted as a more environmentally sound vehicle. The company has also announced plans to develop an electric SUV, the R1S, which will cost less than $100,000. Ford has been looking for ways to transition from traditional car manufacturing to more sustainable transportation options and they found a kindred spirit in Rivian. This is not the first time Ford has invested in an electric vehicle startup. In 2013, it took a stake in the now-defunct company Fisker Automotive and two years later it bought San Francisco-based shuttle service Chariot.

Kelly Jackson
@Kelly.Jackson · Updated 10 May. 2022

There are many reasons why Ford is selling Rivian Stock. The first one is that Ford needs to be in the car market and Rivian is a great opportunity for them. The second reason is that Rivian has a lot of potential and it will be profitable for Ford in the future. Ford is the latest company to invest in Rivian. The investment will give Ford a minority stake in the company and allow for collaboration on the future development of electric vehicles. Rivian is a young company that was founded in 2009. The company has developed a new electric vehicle, called R1T, which they plan to start selling in 2020. Ford’s investment will give them access to Rivian’s expertise and allow them to collaborate on future developments of electric vehicles.