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Ford sells shares in EV maker Rivian for US$214 million

Ford sells shares in EV maker Rivian for US$214 million

The logo for electric vehicle startup Rivian on the hood of its R1T all-electric truck in Mill Valley, California on Jan 25, 2020. (Photo: REUTERS/Nathan Frandino)

Ford Motor sold 8 million shares of electric carmaker Rivian Automotive Inc for US$214 million, or US$26.80 apiece, the US automaker said in a filing on Tuesday (May 10).

Ford now holds 93.9 million shares in the California-headquartered company.

Rivian's shares opened at a record low on Monday after the sale was reported by CNBC over the weekend.

 

 

Source: Reuters/ic

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