Ford, Rivian Abandon Plans For Joint EV

In a small post-IPO setback for Irvine-based Rivian, automaker Ford said Friday that Ford and Rivian have abandoned plans to jointly develop an EV together. Rivian had its IPO last week. According to reports, the move came due to the difficulty of marrying Ford and Rivian’s hardware and software together. Ford made a $500M investment in Rivian in 2019.