Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings.
Ford Motor Co. will become a minority partner in Rivian, which is based outside of Detroit and recently rolled out a new electric pickup truck and an SUV that will go on sale late next year.
The tie-up is another sign that automakers and tech companies are pairing up to share the huge capital costs of developing electric vehicles and even those that drive themselves. Ford and Rivian executives both said there's room for the partnership to grow and for the companies to share expertise.
"We are learning a great deal from this wonderful company and its leadership," Ford CEO Jim Hackett said Wednesday. "We're open-minded to its fresh approach to electric vehicles."
Rivian CEO and founder RJ Scaringe said his company will benefit from Ford's manufacturing and lightweight vehicle expertise. The Dearborn, Michigan, automaker's top-selling Ford F-Series pickup truck has an aluminum body that shaved off as much as 700 pounds from the previous version of the truck.
Rivian will remain an independent company. But Ford President of Automotive Joe Hinrichs will get a seat on the startup's seven-member board. The deal is still subject to regulatory approval.
Scaringe said the Ford deal was separate from a $700 million investment from Amazon that was announced in February. The companies haven't disclosed how that deal will take shape.
On a conference call with reporters and analysts, neither company would disclose what Ford vehicle would be built off the Rivian underpinnings, which the company calls its "skateboard platform." Hinrichs said the partnership will speed development and save money on the new Ford vehicle. Rivian would build the platform, which would be sent to Ford for final vehicle assembly, Hinrichs said.
The partnership could extend to autonomous vehicle technology in the future. Hackett said executives in charge of Argo AI, an autonomous vehicle company partly owned by Ford, know Scaringe well.
Rivian has a large engineering and administrative operation in a former cash register factory in the Detroit suburb of Plymouth Township, Michigan, as well as outposts in San Jose and Irvine, California, and Surrey, England. The company also is starting manufacturing operations in a 2.6-million-square-foot factory in Normal, Illinois, that was once used by Mitsubishi.
The company's R1T pickup and R1S SUV that are supposed to have more than 400 miles of range on a single charge. The five-seat pickup is aimed at the market for off-road capable trucks with outdoorsy features, a market that electric vehicle competitor Tesla Inc. has not yet entered. A basic truck with smaller 230-mile (370 kilometers) battery pack will start under $70,000. A truck with the longer-range battery will be around $90,000. They'll roll out in the U.S. first, then to other markets.
Scaringe said Rivian has plans for lower-cost vehicles in the future, and both companies said they likely would have products that compete for buyers.
Ford said the Rivian vehicle is in addition to Ford's plans to invest $11 billion in electric vehicles including a Mustang-inspired SUV and a zero-emissions version of the F-150 pickup.
WASHINGTON (AP) — Russia has moved some troops onto an airbase in Niger where a small number of U.S. forces remain, but Defense Secretary Lloyd Austin said he doesn't see it as a significant issue. Most American troops left that base in the nation's capital, Niamey, a U.S. official said.
The arrival of Russian trainers in the West African country about three weeks ago came in the wake of Niger’s decision to order out all U.S. troops. The order dealt a blow to U.S. military operations in the Sahel, a vast region south of the Sahara desert where groups linked to al-Qaida and the Islamic State group operate.
The Pentagon has said the U.S. troops will depart but has not provided a timeline.
When Russian troops arrived last month, it was unclear where they were staying. The Niamey base, Austin said late Thursday, is located at the capital city's Diori Hamani International Airport, and “the Russians are in a separate compound and don’t have access to U.S. forces or access to our equipment.”
He said the U.S. will continue to watch the situation but he doesn't see it as a significant force protection issue.
A U.S. official said the Russian forces are on the other side of the Niamey facility, known as Airbase 101, and that other international forces — such as the Germans and Italians — also reside. The official spoke on the condition of anonymity to discuss troop movements. It's unclear how many U.S. troops remain at the Niamey base.
The Russian presence on the base comes as tensions remain high between Washington and Moscow over the ongoing U.S. support for Ukraine's military.
About 1,000 U.S. troops are still in Niger, but the bulk of them moved to what's called Airbase 201 near Agadez, some 920 kilometers (550 miles) away from the capital, not long after mutinous soldiers ousted the country’s democratically elected president last July.
A few months later, the ruling junta asked French forces to leave and turned to the Russian mercenary group Wagner for security assistance.
In October, Washington officially designated the military takeover as a coup, which triggered U.S. laws restricting the military support and aid that it can provide to Niger. Since then, diplomatic efforts to restore ties with Niger have been unsuccessful.
Until recently, Washington considered Niger a key partner and ally in a region swept by coups in recent years, investing millions of dollars in the Agadez base, which has been critical to U.S. counterterrorism operations in the Sahel. The U.S. also has invested hundreds of millions of dollars in training Niger’s military since it began operations there in 2013.
The Pentagon also has said the U.S. will relocate most of the approximately 100 forces it has deployed in neighboring Chad for now. Chad is also considering whether to continue its security agreement with the U.S.
Maj. Gen. Pat Ryder, Pentagon press secretary, told reporters that the departure from Chad "is a temporary step as part of the ongoing review of our security cooperation, which will resume after Chad’s May 6th presidential election.”
FILE - Supporters of Niger's ruling junta gather for a protest called to fight for the country's freedom and push back against foreign interference, in Niamey, Niger, Aug. 3, 2023. Russia has moved some troops onto an airbase in Niger where a small number of U.S. forces remain after most American troops left the base in Niamey, the nation's capital, a U.S. official said Thursday, May 2, 2024. (AP Photo/Sam Mednick, File)
