Thursday, January 26, 2023
News Ford is Selling 8 million of its Rivian shares

Ford is Selling 8 million of its Rivian shares

Rivian’s production woes are inspiring a number of stakeholders to sell off shares

  • Ford is a 12% stake in the EV startup.

  • Ford’s announcement caused Rivian shares to drop 10%.

It’s tough out there, in the ca business. Despite the massive interest, mega funding, and the sixth biggest IPO in U.S. history, Rivian continues to show difficulties in ramping up the production of its vehicles.

Rivian R1T and R1S | Photo: Rivian

The news of Ford’s selling of 8 million Rivian shares is indicative of something. And investors have taken notice as Rivian’s shares fell almost 10% following the announcement that the Blue Oval, a 12% owner of the EV startup, was unloading some of its investment. Ford owns about 102 million shares altogether, so they’ve obviously not given up on Rivian.

Even so, Ford’s not the only organization to sell off some of its holdings in Rivian. JPMorgan Chase & Co. is also selling somewhere between 13 million to 15 million shares in the manufacturer for an unknown seller, as reported by Automotive News.

Despite briefly being evaluated at $100 billion, or more than Ford and GM, Rivian shares have since plummeted over the last months as constant production complications, largely due to part supply issues, have plagued the automaker.

Trending Now

Rolls-Royce Could Have to Increase its First EVs Production Run

The company’s CEO said the Spectre EV received “far more” orders than expected. Full details for the EV have yet to be announced...

GM will Invest $918 Million to Produce new V8 Engines and EV Components

This investment will be split between four manufacturing facilities in Michigan, Ohio, and New York. $854 million will be used to prepare for...

2023 Mercedes-Benz EQE Sedan pricing announced for Canada

2023 Mercedes-Benz EQE fully-electric sedan to start at $85,600 in Canada Three versions will be offered New Mercedes-AMG EQE 4MATIC+ will start at...

Most Popular Cars in the United States in 2022

The Ford F-Series dominates the list of the most popular cars in the United States in 2022. Strong sales gains for Tesla Model...

Most Popular Cars in Canada in 2022

The Ford F-Series pickup is tops among the most popular cars in Canada. The Toyota Corolla topples the Honda Civic and becomes the...
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai


Please enter your comment!
Please enter your name here

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