Rivian CEO RJ Scaringe (left) and Ford Chairman Bill Ford image: Ford

Just a while after raising a $700 million round led by Amazon, Rivian Automotive — an electric vehicle manufacturer expected to launch its first vehicle in 2020 — has raised $500 million from Ford and agreed to work together to develop a new electric vehicle for the Detroit based auto manufacturer using its modular platform. Ford’s president of Automotive, Joe Hinrichs will be joining Rivian’s board as part of this investment.

Ford intends to develop an electric vehicle based on Rivian’s platform in addition to its plans to develop a portfolio of EVs. The company has already confirmed two fully electric vehicles — a Mustang-based crossover and an electric version of the F-150 pickup — in the works. Rivian itself is working on two electric vehicles — a five-passenger pickup and a seven-passenger SUV — that it aims to deliver beginning late next year.

Rivian battery modules being tested in one of its development centers image: Rivian

Rivian says its new vehicles will deliver up to 400-plus miles of range on full charge. The company currently has development centers in San Jose, California; Irvine, California; Plymouth, Michigan; and Surrey, England along with a 2.6 million-square-foot manufacturing facility in the state of Illinois.

It first unveiled its electric vehicles November last year.

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