The Lincoln Motor Firm has confirmed it’s growing an all-electric car that might be powered by tech from EV startup Rivian. It will likely be Lincoln’s first all-electric car, although the corporate didn’t say when it’s due, nor did it supply some other particulars concerning the car, past saying it can “characteristic related and intuitive applied sciences designed to create a simple expertise for Lincoln purchasers.”
Lincoln’s guardian firm, Ford, introduced a $500 million funding in Rivian in April 2019, and stated it will construct an electrical car on the startup’s platform (mainly the battery, electrical motors, and all the opposite tech that makes an EV go). It was reported within the months following that the car could be a Lincoln SUV, however Ford’s luxurious marque had not confirmed any elements of these studies till as we speak.
Rivian is a Michigan-based electrical car startup that was truly based in 2009. It spent practically a decade working in stealth mode, earlier than unveiling an all-electric pickup truck and SUV in November 2018 on the LA Auto Present, each of which had been a lot buzzed-about hits. Every car is predicted to value round $70,000, and Rivian plans to place them into manufacturing later this 12 months. The corporate has promised top-of-the-line efficiency specs in addition to ample vary (learn: 400 miles or extra), which helps clarify why corporations like Ford and Lincoln are so within the firm’s expertise.
The startup has been on a tear ever since. Only a few months later, Rivian introduced Amazon was main a $700 million funding spherical. (Amazon may even construct supply vans utilizing Rivian’s electrical car expertise.) Rivian introduced the Ford funding shortly after that, in addition to $350 million in financing from Cox Automotive. In December 2019, Rivian introduced one other $1.three billion funding spherical led by T. Rowe Worth that included present traders like Amazon and Ford.
On the identical time, the startup began hiring expertise from everywhere in the automotive trade (and past), poaching prime expertise from Ford, McLaren, Tesla, and would-be rival Faraday Future, as The Verge first reported in July final 12 months.
At that time, the startup had already grown to round 750 workers. However Rivian has greater than doubled in measurement since then. It now employs over 1,700 folks, the corporate tells The Verge. That features many of the staff that helped GM create the notorious EV1 electrical automotive, which Rivian employed away from Faraday Future, The Verge reported final February.