Ford Motor (NYSE:F)
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By Michael Dabaie
Ford Motor Co.'s (F) Lincoln Motor Co. said it is working with electric-truck company Rivian to develop a new electric vehicle.
Ford said the electric vehicle was previously announced as part of Ford Motor's investment in Rivian. Last year, Rivian unveiled an equity investment of $500 million from Ford and said the companies agreed to work together to develop a new, next-generation battery electric vehicle.
Lincoln's first fully electric vehicle will join the Aviator and Corsair Grand Touring plug-in hybrid vehicles.
As Lincoln adds the new electric vehicle to its lineup, production of the MKZ sedan will end this year in order for the Hermosillo Assembly Plant in Mexico to prepare for production of new Ford vehicles, Ford said.
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(END) Dow Jones Newswires
January 29, 2020 12:20 ET (17:20 GMT)
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