Ford Motor Selling 8M Shares Of Rivian Automotive: Report - Ford Motor (NYSE:F), Goldman Sachs Group (NYS

Ford Motor Company (NYSE:F) will sell 8 million Rivian Automotive Inc (NASDAQ: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 (NYSE: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 (NYSE: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

FFord Motor Co

$14.22-0.07%

Overview

GSThe Goldman Sachs Group Inc

$1067.000.17%

JPMJPMorgan Chase & Co

$342.000.26%

RIVNRivian Automotive Inc

$17.41-0.26%

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