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Ford Sells Shares in EV Maker Rivian for $188.2 Mln

Reuters2022-05-16

Ford Motor Co sold 7 million shares of electric carmaker Rivian Automotive Inc for about $188.2 million, or $26.88 apiece, the U.S. automaker said in a filing on Friday.

Ford now holds 86.9 million shares in the California-headquartered company.

Rivian is struggling in a competitive market, including competition from Ford's F-150 Lightning electric pickup truck, while a supply chain crisis is limiting production at its plants.

The electric-car maker earlier slashed its planned 2022 production in half to 25,000 vehicles.

On Tuesday, Ford had sold about 8 million shares of Rivian worth $214 million.

Rivian shares closed at $26.70 on Friday.

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Comment18

  • WeiChongkan
    ·2022-05-16
    liked
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  • JcJc
    ·2022-05-16
    Rivian 😔I cut off lost money 💸💸💸
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  • FattAgain69
    ·2022-05-16
    Only start to consider buying Rivian when Ford is running out of the stock.
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  • Lao Tzu Ang
    ·2022-05-16
    Let's see the development.
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  • Toby_Chua
    ·2022-05-16
    Rebalancing of risk
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  • Katchoong
    ·2022-05-16
    Ok
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  • Katchoong
    ·2022-05-16
    Won't consider
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  • wine18
    ·2022-05-16
    Nice
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  • BenjiFuji
    ·2022-05-16
    Run for your life 
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  • El_Nino
    ·2022-05-16
    K la
    Reply
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  • El_Nino
    ·2022-05-16
    K la
    Reply
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  • JLKang
    ·2022-05-16
    Sounds bad 
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  • V K
    ·2022-05-16
    Pls like tyvm[Happy] 
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  • Ohshi
    ·2022-05-16
    Buy the dip or Buy the cyber truck?
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  • TheRainmaker
    ·2022-05-16
    Yes you are rights on the days 
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  • ARIESan
    ·2022-05-16
    Cash out 
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  • TheRainmaker
    ·2022-05-16
    Ok
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  • boonk
    ·2022-05-14
    Bright days ahead
    Reply
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