Lincoln is reportedly building an electric SUV on Rivian's platform

This would explain Ford's big investment.

Ford didn't say what kind of car it would make with Rivian's EV platform, but you might not have to wait for official news to find out. Reuters sources claim that Ford's Lincoln badge is developing an all-wheel drive SUV on the platform with plans to release it in mid-2022. Most other details weren't available, but this would likely be a "premium" model that would compete with offerings from GM rumored to surface by 2023.

Ford and Rivian haven't commented on the apparent leak.

The move would make sense. Ford hasn't been shy about relying on others to fast-track its EV strategy, including plans to build a car on VW's electric platform. Rivian would help Lincoln quickly build an electric SUV without investing the time and resources needed to build it from scratch. This could also help Lincoln's offering stand out from other Ford EVs with less work. It might just be a question of what happens next. The SUV could be a one-off, but it could also be the start of a long-term relationship with Rivian if the machine proves successful.