By: Diane Benjamin
This news just broke, more information should be available later today or tomorrow.
Ford kills Rivian deal with Lincoln (for now) amid economic challenges during pandemic
See this story: https://www.freep.com/story/money/cars/ford/2020/04/28/ford-rivian-deal-lincoln-coronavirus-pandemic/3042670001/
Update:
Another story: https://www.theverge.com/2020/4/28/21240212/ford-lincoln-cancel-rivian-suv-ev-coronavirus-pandemic-investment
I will believe they make cars when I see one being driven down main street.
I can only imagine what a difficult and challenging time it is for a company like Rivian, who by the way, I WANT to be successful, to move forward with pace during these times. These are the times where it will take strong leadership and perseverance to get through everything.
Elizabeth…maybe I don’t understand the whole story on why you’re skeptical of Rivian, but would like to hear more from you on why you don’t believe in them…assuming you’re willing to share?
They have given reason after reason to be skeptical. If you want to invest the time check out their history of promises made to other communities only to pull up stakes after getting tax abatements in Florida and other locations. It has always been great ideas with no money to back it up and produce a product. I’ll just say I think they may be good on the electric battery side but have zero idea how to produce a vehicle by themselves. Why they went begging to the Big Three for money and knowledge. Amazon wants the battery tech. That’s it. I look for Rivian to be here under that name for as little as possible. Just based on what they say you can read between the lines and know the ultimate goal is to sell the battery tech to someone else asap or merge with another company. These guys are electrical engineers by experience, not car manufacturers. I predict the plant will be empty within five years of producing the first overpriced vehicle, if and when it comes.
First, I agree with MPEABODY. These amateurs will never successfully mass produce vehicles. This is something I have said from the beginning. There has been way too much PR, inconsistencies and outright lies coming from them. I was amazed that Fuhrer Koos and crew thought Rivian was a viable option to fill that plant. I would have aggressively marketed this plant to existing auto makers and do what was necessary to bring a (real) company into it. It became obvious early on that a bike shop owner and his buddies were not up to this task. Their gullibility and lack of modern mass production knowledge/experience made them easy prey for Rivian’s BS.
And now the equation has changed.
This Chinese Communist Virus shutdown is a pivotal moment for our country and our economy. The decline of 20th Century companies and institutions that are currently being disrupted is going to accelerate after this is all over. We will be seeing the beginning of a mass extinction event for many companies and institutions.
Over-hyped and fundamentally flawed organizations like Rivian will not stand a chance of surviving in the coming world. A world that will be defined by a new set of realities and driven by exponential technological change.
The perfect excuse. Libs give credit for “good intent”, not good results. That’s all that matters.🤷♀️
Exactly.
“Never let a crisis go to waste.” Saul Alinsky
This crisis is as good as any.
Of course I would like to see Rivian be a success. I would like to see everything that is purported to be (good) for us to actually turn out that way. However as they say, life is but a game. Wise men win, fools lose. Our local mayors and councils and especially state officials continuously prove what fools they are by continuing to throw money at obvious failure. Government does not create economic prosperity.
Local media again late to the party. Also, in a good faith gesture, why isn’t Zach D. making sure local media gets first dibs on information before it hits the national media and trade publications. If you are a good p.r. person, locals get the info first before releasing it elsewhere. I read alot of items about Rivian that doesn’t ever see the light of day locally. Either Rivian doesn’t care about keeping a home base informed or local media is incompetent. I’m betting a bit of both. Again, makes Rivian look like they are hiding something. Bad optics for a start-up wanting local money.
The fact this company has existed for 11 years and has yet to put a vehicle on the road tells me all I need to know.
I’m excited to see how Koos and WGLT WILL SPIN THIS ONE.
COVID – 19. It’s a cop out for every mistake government in Illinois has made. At this rate, don’t look for our shelter in place order to be lifted anytime soon. JB is going to ride this storm for as long as he can. He’s got Chris, Tari, Jenn and Jeff to carry water for him locally.
We have law!
WANT to OWN a collectors item? GET a RIVIN sign while they STILL have their name on signs! ALL that ANYONE who has invested in them WANTS is their battery technology! And by the time they get THAT perfected, their technology will be like Fred Flintstones foot prints in the dirt as PROOF of a working engine..
Believe in RIVIAN?? Invest in them.. I’ll buy PROVEN companies that DELIVER!
WHEN I see a RIVIAN car, I’ll say HEY, that’s GREAT! But until then, SEEING is BELIEVING!
And NO! I’m NOT holding my breath!
Where to begin? First, no one is rooting for Rivian to fail. That’s absurd! However, many, myself included, believe that the Rivian deal should not have been made for one of several reasons: (1) Rivian brought with it several red flags and is competing in a very long-shot industry; (2) Local leaders rammed through a deal using taxpayer money with minimal discussion and taxpayer buy-in; and/or (3) Few locally dare to question Rivian’s past, the likelihood of success, and other business fundamentals, both then and now. Worse still, the local establishment is carrying water and acting as their cheerleader. The news from Ford is being downplayed, as one would expect. That said, the quotes from those involved don’t look good. Looks like Ford is moving more toward having Rivian as a battery vendor…which, by the way, they should be anyway. This company has no business making a vehicle, it’s nothing more than a distraction and ego project for Clark Kent. I expect they’ll either be acquired by an automaker or the technology will improve such that Rivian would be selling an obsolete battery technology by the time they are in the market (whatever that is).