Why did Ford invest $500m in Rivian’s electric skateboard platform if they can build (and are building) their own electric F-150 truck? I like Rivian and I’m not trying to be a d*ck, just want to try and understand what Rivian can do for Ford that Ford can’t - or won’t - do for themselves. Does anyone have their head wrapped around this? #rivianautomotive #ford
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Although I don't know the exact reasons, I did pounder over it few times.
As I look it, these agreements (with VW and Mahindra in India) and investments (including Spin, Argo AI) were made by the earlier CEO who did wanted to leverage Rivian's platform at some point. But as the new CEO shift was happening (along with the Pandemic capital crunch) they validated that the Rivian's platform would no longer benefit and fall well short of the Ford's needs. So they abandoned that idea and pushed with their own platform. I also heard a rumour that at some point Rivian did became rogue by becoming increasingly difficult to work with and pursued their own interests rather than collaboration.
So ultimately Ford treats their investments in Rivian just as passive investments.