REUTERS: Ford Motor Co said on Wednesday it will invest US$500 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley's Tesla Inc.
“It does not interfere" with Volkswagen, Hackett said during a conference call on Wednesday. “This is a specific platform that helps us in areas we weren’t considering with others.” Announcement of the Ford deal followed reports that General Motors Co and Rivian had broken off discussions. Reuters reported in February that GM was in talks to invest in Rivian.
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