Ford sells shares in EV maker Rivian for $188.2 mln

Ford Motor Co (F) sold 7 million shares of electric carmaker Rivian Automotive Inc (RIVN) 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.

Tiếp tục đọc
Đăng nhập hoặc đăng ký tài khoản TradingView miễn phí và tận hưởng quyền truy cập vào tin tức tài chính toàn cầu theo thời gian thực.