The Lincoln Motor Company on Wednesday announced that it plans to release its first all-electric vehicle being built in partnership with the EV startup Rivian.
"Working with Rivian marks a pivotal point for Lincoln as we move toward a future that includes fully electric vehicles," Lincoln President Joy Falotico said in a statement. "Zero emissions, effortless performance, and connected and intuitive technology. It's going to be stunning."
The move from Lincoln, Ford Motor Company's luxury line, is a product of Ford's $500 million investment in Rivian last April, which itself is part of Ford's outsized $11.5 billion investment in electric vehicles and charging infrastructure.
The automaker is working with Rivian to introduce a fully electric version of the F-150 pickup, and last fall unveiled the Mustang Mach-E, a sporty crossover that promises to be Ford's first mass-produced electric vehicle since it discontinued its battery-powered Fusion in 2018.
The moves reflect how Ford ($F), rather than attempting to sell consumers on entirely new vehicles is instead harnessing its marquee brands to drive its electrification push. The Ford F-Series has repeatedly ranked as its best-selling product and the top-selling vehicle in America, and the Ford Transit – another vehicle set to be introduced in an all-electric variety – is one of the most popular utility vans in the world.
"Our vehicle development partnership with Ford is an exciting opportunity to pair our technology with Lincoln's vision for innovation and refinement. We are proud to collaborate on Lincoln's first fully electric vehicle," Rivian CEO RJ Scaringe said in a statement.
Updated to reflect that Lincoln has not revealed the vehicle model to be be built.
The House of Representatives recently passed a bill aimed at increasing transparency in healthcare.
If you have a flexible spending account, here's some short information for you so you don't leave money on the table.
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
Millions of people have selected insurance plans for 2024 but sometimes navigating them can be tricky time consuming and expensive. Paula Pant, host of 'Afford Anything' podcast, joined Cheddar News to break down what's needed to know about their insurance plans.
The European Union is investigating Elon Musk's X over alleged illicit content and disinformation on its platform. Cheddar News breaks it all down and discusses what it could mean for users.
Adobe and Figma called off their $20 million merger, Southwest Airlines gets fined, Nippon Steel is buying U.S. Steel and oil and gas prices surge after a pause in shipments.
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Japan's Nippon steel is buying U.S. Steel for $14.9 billion.
Southwest Airlines will pay a $35 million fine as part of a settlement over a 2022 holiday season disaster that saw the airline cancel thousands of flights and leave millions of people stranded.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
