Go read this report about how GM’s deal with Rivian fell apart

Go read this report about how GM’s deal with Rivian fell apart


Photo by Mitchell Clark / The Verge

A little over two years ago when Rivian’s all-electric vehicles were still just blueprints, American carmakers Ford and GM were itching to invest. Fast-forward to the present, and Ford wound up becoming one of Rivian’s biggest partners alongside Amazon. What most people may not realize, however, is that Ford nearly lost its spot to GM.

This Wall Street Journal report describes some of the clandestine dealings in cinematic detail, and explores how Rivian CEO RJ Scaringe’s bond with Joe Hinrichs, Ford’s former president of global operations, became the foundation of Ford’s investment in the company.

According to the WSJ, Hinrichs first met with Scaringe in 2018. But because Ford had just missed its earnings targets, it wasn’t ready to…

Continue reading…

Source:

This post was originally created on this site & curated for Mamizi members