Tesla's rival Rivian will help build Lincoln's first electric car as part of Ford's massive $500 million investment in the Amazon-backed EV startup (F)

Ford

• The electric-vehicle startup Rivian will make the platform for Lincoln's first EV.
• That platform will include the vehicle's motors, suspension, and battery pack.
• Ford, which owns Lincoln, invested $500 million in Rivian last year.
• Rivian plans to release an SUV and pickup truck this year.
• Visit Business Insider's homepage for more stories.

The electric-vehicle startup Rivian will make the platform for Lincoln's first fully-electric vehicle, Lincoln announced on Wednesday. That platform will include the vehicle's motors, suspension, and battery pack.

Ford, which owns the Lincoln brand, invested $500 million in Rivian last year. The companies had previously said they would develop a vehicle together, but had not revealed any details about the project until Wednesday. Lincoln did disclose the upcoming vehicle's name, release date, or body type.

Founded in 2009, Rivian has raised $3.5 billion, according to Pitchbook, including investments from T. Rowe Price and Amazon, which has ordered 100,000 electric delivery vans from the startup.

Rivian plans to release an electric SUV, the R1S, and an electric pickup truck, the R1T, this year. Each will have a range that could top 400 miles and the ability to accelerate from 0 to 60 mph in three seconds, according to Rivian.

Ford has said it will invest $11.5 billion in electrified vehicles through 2022. The automaker will release an electric SUV, the Mustang Mach-E SUV, at the end of this year, and plans to make an electric version of its F-150 pickup truck.

Are you a current or former Rivian employee? Do you have an opinion about what it's like to work there? Contact this reporter at mmatousek@businessinsider.com. You can also reach out on Signal at 646-768-4712 or email this reporter's encrypted address at mmatousek@protonmail.com.

• Read more:
• The CEO of EV startup Rivian explains why he thinks it will beat Audi, Mercedes-Benz, and BMW with its first 2 electric vehicles
• With Tesla's Elon Musk and Rivian's RJ Scaringe, we have the Henry Ford and Alfred Sloan of electric vehicles
• Watch the Tesla Cybertruck's closest rival execute full 360-degree turns from a standstill
• A Ford exec says the Mustang Mach-E will be profitable immediately — here's why

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