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
