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.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
