• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, July 20, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Ford sells shares in EV maker Rivian for $214 mln

by Srestha Roy
May 11, 2022 - Updated On May 12, 2022
in News
Reading Time: 2 mins read
0
Ford sells shares in EV maker Rivian for $214 mln
TwitterWhatsappLinkedin

Ford Motor Co (F.N) said in a filing on Tuesday that it sold eight million shares of electric-car maker Rivian Automotive Inc (RIVN.O) for $214 million, or $26.80 per share.

You might also like

RFK Jr.’s Plan to Overhaul the U.S. Vaccine Injury Program Sparks Alarm Across Health Sector

GenAI Takes Center Stage in Netflix Shows and Films

Jio Financial Services and Allianz Group Ink 50:50 Reinsurance Joint Venture Deal

According to Refinitiv statistics, Ford currently owns over 94 million shares, or 10.5 percent of the corporation, and is the fourth-largest shareholder in the Irvine, California-based company.

Rivian is battling in a competitive market, which includes Ford’s F-150 Lightning electric pickup vehicle, and a supply chain crisis is hampering production at its plants.

The electric vehicle manufacturer has previously cut its anticipated 2022 production in half to 25,000 units.

Ford’s share price of $26.8 on May 9 was lower than Rivian’s Friday close of $28.79. Rivian stock has fallen roughly 21% since CNBC reported the deal over the weekend.

With an 18.2 percent position, T.Rowe Price Associates is the largest shareholder in the electric car producer, followed by Amazon.com Inc (AMZN.O) with a 17.7 percent holding.

Amazon.com reported a 59 percent drop in first-quarter operating profits, primarily due to its investments in the automaker.

The American retailer, which is also one of Rivian’s primary customers, anticipates receiving 100,000 delivery vans by 2024. Ford’s first-quarter net loss was $3.1 billion due to a decrease in the value of its Rivian shareholding. Requests for comment from Rivian and Ford were not immediately returned.

Ford Motor Company is an American multinational vehicle manufacturer based in Dearborn, Michigan. Henry Ford formed it and incorporated it on June 16, 1903. The Ford brand sells autos and commercial vehicles, whereas the Lincoln premium brand sells luxury cars. Ford also owns Troller, a Brazilian SUV maker, an 8% investment in Aston Martin of the United Kingdom, and a 32% stake in China’s Jiangling Motors.

In addition, it has partner businesses in China, Taiwan, Thailand, Turkey, and Russia. The Ford family controls the corporation, which is listed on the New York Stock Exchange; they hold a minority of the company but have a majority of the voting power.

Based on 2015 car production, Ford is the second-largest automaker in the United States and the fifth-largest in the globe. Ford was Europe’s fifth-largest automaker at the end of 2010. The corporation went public in 1956, although the Ford family retains 40 percent of the voting rights through special Class B shares. During the 2007–08 financial crisis, the firm struggled financially but did not require federal government assistance, unlike the other two main US automakers.

Ford Motors has recently returned to profitability and was ranked eleventh overall in the 2018 Fortune 500 list, with global revenues of $156.7 billion in 2017.

Tags: evFordRivian
Tweet54SendShare15
Previous Post

How to create and do e-signature

Next Post

SpaceX president says Starbase will be ready for Starship’s first orbital launch by June/July

Srestha Roy

Recommended For You

RFK Jr.’s Plan to Overhaul the U.S. Vaccine Injury Program Sparks Alarm Across Health Sector

by Anochie Esther
July 20, 2025
0
Kennedy

Five months into his tenure as Secretary of Health and Human Services (HHS), Robert F. Kennedy Jr. has set his sights on a quiet but critical pillar of...

Read more

GenAI Takes Center Stage in Netflix Shows and Films

by Sneha Singh
July 20, 2025
0
GenAI Takes Center Stage in Netflix Shows and Films

Netflix has achieved an unpublicized milestone that could change the manner in which movies and television are made. The streaming giant announced Thursday that it successfully used artificial...

Read more

Jio Financial Services and Allianz Group Ink 50:50 Reinsurance Joint Venture Deal

by Anochie Esther
July 20, 2025
0
JFSL

In a landmark move poised to reshape India's insurance landscape, Jio Financial Services Ltd (JFSL) and Germany-based Allianz Group have entered into a binding agreement to form a...

Read more
Next Post
SpaceX's Much-awaited Starship Launch Likely In June Or July

SpaceX president says Starbase will be ready for Starship's first orbital launch by June/July

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?