A joint venture between Ford and Rivian, a battery and electric-car maker, didn’t go according to plan.
The two companies said in February that they’d been in talks for months to collaborate on electric vehicles, including both public-transit and commercial-fleet cars, using Ford’s vehicles and using Rivian’s technology.
But Ford said Thursday that the two companies have decided to terminate their partnership. The companies said that Rivian has decided not to build electric vehicles for Ford, though Ford was the company’s partner.
A Ford spokeswoman said in an e-mail that Rivian chose not to pursue Ford’s deal. Ford will continue to work with companies on electric vehicles, but this won’t be through a joint venture like the one with Rivian.
“Rivian’s decision to continue on its own path with its wholly owned business gives us confidence in Ford’s outlook,” the company said in its statement.
Rivian had announced plans to build fully electric SUVs with a 310-mile range, with prices below $60,000. Its fleet vehicles are all expected to be ready in 2022.
The story was first reported by BuzzFeed News.