The Lincoln Motor Company has confirmed it’s establishing an all-electric car that will be powered by tech from EV start-up Rivian. It will be Lincoln’s very first all-electric lorry, though the business did not say when it is due, nor did it offer any other details about the vehicle, beyond stating it will “function connected and instinctive technologies designed to create an uncomplicated experience for Lincoln customers.”
Lincoln’s parent business, Ford, revealed a $500 million financial investment in Rivian in April 2019, and stated it would develop an electric car on the start-up’s platform (basically the battery, electrical motors, and all the other tech that makes an EV go). It was reported in the months following that the lorry would be a Lincoln SUV, however Ford’s luxury marque had not verified any parts of those reports up until today.
Rivian is a Michigan-based electrical automobile start-up that was actually established in2009 Each vehicle is expected to cost around $70,000, and Rivian strategies to put them into production later on this year.
Simply a few months later, Rivian revealed Amazon was leading a $700 million investment round. Rivian announced the Ford investment shortly after that, as well as $350 million in financing from Cox Automotive. In December 2019, Rivian revealed another $1.3 billion funding round led by T. Rowe Rate that included existing financiers like Amazon and Ford.
At the very same time, the start-up started hiring talent from all over the vehicle market (and beyond), poaching leading skill from Ford, McLaren, Tesla, and would-be rival Faraday Future, as The Verge first reported in July last year.
Rivian has actually more than doubled in size considering that then. That consists of most of the team that assisted GM create the infamous EV1 electrical cars and truck, which Rivian employed away from Faraday Future, The Edge reported last February.