Ford Motor Selling 8M Shares Of Rivian Automotive: Report

Zinger Key Points
  • Ford will sell the shares with the help of Goldman Sachs Group Inc
  • In March, Rivian reported its fourth-quarter revenue of $54 million
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Ford Motor Company F will sell 8 million Rivian Automotive Inc RIVN shares, according to a CNBC report. The post-IPO lockup period for Rivian ends on Sunday. 

  • Ford will sell the shares with the help of Goldman Sachs Group Inc GS
  • In March, Rivian reported fourth-quarter revenue of $54 million, missing a consensus estimate of $60 million. 

Also Read: Rivian CEO: Raw Material Shortage Will Severely Limit EV Battery Production

  • The EV manufacturer said in March it is expected to produce 25,000 electric trucks and SUVs this year. 
  • The total fiscal year revenue was $55 million with 920 vehicle deliveries. The company delivered 909 vehicles in the fourth quarter.  
  • JPMorgan Chase & Co JPM also plans to sell a Rivian share block of between 13 million and 15 million for an unknown seller.

Photo: Courtesy of rivian.com

Posted In: NewsTop StoriesMarketsautoFord MotorsGoldman SachsJPMorgan ChaseRivian AutomotiveSectorsellShare
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