Ford sold 91 million shares of EV startup Rivian last year
Publishing timestamp: 2023-02-03 17:13:58
Summary
Ford Motor liquidated most of its ownership stake in electric vehicle maker Rivian Automotive in 2022, resulting in a $3 billion gain on its $1.2 billion investment. Ford still owns 11 million of its initial 101.9 million shares of Rivian, and the company's stock is now trading around $20 per share. Ford's unrealized gains/losses in 2021 and 2022 damaged the automaker's bottom-line.
Sentiment: MIXED
Keywords: detroit, autos, business, james hackett, breaking news: business, rivian automotive inc, ford motor co, business news, transportation, technology, climate,
Source: https://www.cnbc.com/2023/02/03/ford-sold-most-of-its-rivian-stake-last-year.html