India, April 24 -- Ford Motor Co. (F) plans to invest $500 million in electric truck maker Rivian, the companies said Wednesday. They will also work together to develop an all-new battery electric vehicle for Ford using Rivian's skateboard platform.
Ford's investment comes just months after Rivian revealed two new products, an all-electric pickup and SUV. The automotive startup claims that its five-passenger R1T all-electric pickup truck and seven-passenger R1S SUV will deliver a range of more than 400 miles on a single charge. The vehicles will be available in late 2020.
Rivian has development centers in Plymouth, Michigan; San Jose and Irvine, California; and Surrey, England; in addition to 2.6-million-square-foot manufacturing plant in...