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-0.000909642207398458 -1.81928441481415E-05 -0.00060642813826571 0.00154032747119452 0.00180109157064877 0 0 0
Stock impact report

Ford turns to F1 and bounties to build a $30,000 electric truck [TechCrunch]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: TechCrunch
A combination of 3D-printed Lego-like parts, Formula 1 thinking, and a bounty program will help the company hit that target, Ford said Tuesday. It will have to. Ford took a $19.5 billion hit in December and ended production of its battery-electric F-150 Lightning. It can't afford for this new EV business strategy to fall flat. Ford's bet on a line of affordable EVs began several years ago with a skunkworks team led by Alan Clarke, a 12-year Tesla veteran. Pieces of its plan were revealed last August, when Ford said it would ditch its traditional moving assembly line and invest $2 billion in its Louisville factory to adopt a new production system that promises to speed up manufacturing by 15%. The company said at the time that its line of EVs would be built on a universal platform with single-piece aluminum unicastings — large components cast as one piece to eliminate parts and allow for faster assembly — and lithium iron phosphate batteries with tech licensed from China's CATL. Show less Read more
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