Ford sees $8.2 billion fourth-quarter gain from Rivian investment

by SpeedLux
Rivian logo

Ford Motor’s fourth-quarter results include an $8.2 billion gain on its investment in Rivian Automotive, after the electric automaker’s market debut in November.

Rivian had increased as much as 53% to cross $100 billion in the biggest initial public offering of the last year, but the company’s shares have declined over 27% since that time.

Ford, an early investor in Rivian, currently owns about 12% of the company and has itself been racing toward electrification in a move to shift away from traditional gasoline-powered cars as demand for green transport increases.

The automaker has pledged to invest over $30 billion in EVs by 2030.

In 2019, the automaker invested $500 million in Rivian, with plans to use the EV maker’s platform for building a new Ford-branded electric vehicle, but the automakers dropped those plans in 2021.

Ford is set to report its fourth-quarter results on February 3.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More