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The Lincoln Motor Company announced the partnership Wednesday. The zero-emissions vehicle will be based on Rivian’s “skateboard” electric vehicle platform.
Ford, which is Lincoln’s parent company, said last April that it was investing $500 million in Rivian. The development of this new electric luxury vehicle is related to that investment, the companies said.
The proposed electric model will be part of Lincoln’s “commitment to electrification,” which includes the luxury automaker's plug-in hybrid vehicles, the Aviator and the Corsair Grand Touring,
“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 press release. “This vehicle will take ‘quiet flight’ to a new place — zero emissions, effortless performance and connected and intuitive technology. It’s going to be stunning.”
Lincoln didn’t specify what type of vehicle it will develop for its first electric model, but Reuters previously reported it will be an SUV. The automaker has been leaning on SUVs to drive sales; it introduced four SUVs in the past three years and is ending production of its MKZ sedan this year. The company said its global SUV sales have grown 7 percent year-over-year, reaching a 16-year high.
Ford’s investment in Rivian is part of what it said was an $11.5 billion investment into electrification. Before bringing in Rivian, Ford had said it was already working on its electric Mustang Mach-E and a version of the F-150 pickup.
“Our vehicle development partnership with Ford is an exciting opportunity to pair our technology with Lincoln’s vision for innovation and refinement,” Rivian CEO RJ Scaringe said in a press release.
The electric Lincoln could hit the market in mid-2022, Reuters previously reported.
Automakers have been racing to develop electric vehicles. Kia, Audi and Porsche also have electric cars hitting the market this year. All-electric automaker Tesla recently passed the $100 billion valuation mark.