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Illustration: Lazaro Gamio/Axios

Ford's $500 million investment in EV maker Rivian is a stark sign of how legacy automakers are looking outside their walls to find competitive advantages in the emerging market.

The big picture: It's the latest in a wave of corporate partnerships and joint ventures in the auto industry as big players seek their footing, a topic Axios explored here.

Why it matters: The investment and collaboration deal, which comes in addition to Ford's broader $11 billion in EV-related investments planned over the next few years, could be vital to Ford's future, Morgan Stanley analysts said in a note.

  • Ford's reliance on profits from pickup trucks is the "highest dependency on the segment" among automakers, per Morgan Stanley.
  • That makes Ford "particularly exposed to advancements in commercialized EV technology in the segment that could pose an obsolescence risk to Ford’s core franchise," they wrote.
  • The New York Times reports: "Ford is counting on the partnership to accelerate its efforts to field a range of electric cars and trucks, while it also pushes to streamline operations, slash costs and increase profitability."

What's next: In addition to Ford's equity investment, Ford and Rivian plan to develop an all-new EV of some sort (they didn't provide details) using Rivian's "skateboard" platform, which is engineered to accommodate a range of designs.

  • Rivian is already planning to launch 2 EV models next year, a pickup and an SUV, while Ford is also planning new models including an electric version of its popular F-150 pickup.
  • However, per Quartz, Ford won’t use Rivian’s technology for the electric F-150, because that would delay the 2021 launch date.

The bottom line: "In our view, if there were one global OEM who would benefit the most from the advantage of Rivian’s momentum in EVs, it’s Ford," Morgan Stanley analysts said.

Go deeper: This EV startup for adventurers has a two-part strategy for success

Go deeper

New York prepares for staff shortages from health vaccine mandate

New York Gov. Kathy Hochul during a news conference Tuesday in New York City.. Photo: Mark Kauzlarich/Bloomberg via Getty Images

Gov. Kathy Hochul (D) announced Saturday she would declare a state of emergency if there were health worker shortages due to New York's upcoming COVID-19 vaccine mandate.

Why it matters: Hochul moved to reassure concerns of staffing shortages in the health care sector in a statement that also outlined plans to call in medically trained National Guard members, workers from outside New York and retirees if necessary when the mandate takes effect Monday.

California to remove word "alien" from state laws

Gov. Gavin Newsom during a September news conference in Oakland, California. Photo: Jane Tyska/Digital First Media/East Bay Times via Getty Images

California is removing the word "alien" from its state laws and replacing it with words such as "noncitizen" and "immigrant," Gov. Gavin Newsom (D) announced.

Why it matters: The word "alien" began to be used in the 1990s "as a political dog whistle to express bigotry and hatred without using traditionally racist language," per a statement from Newsom's office.

7 hours ago - Health

Axios AM Deep Dive: Covid forever

Illustration: Aïda Amer/Axios

It was 563 days ago that the WHO declared Covid-19 a pandemic. This Axios AM Deep Dive, led by healthcare reporter Caitlin Owens, looks at our Covid future.