Ford Motor Promoting 8M Shares Of Rivian Automotive: Report

Ford Motor Firm F will promote 8 million Rivian Automotive Inc RIVN shares, in line with a CNBC report. The post-IPO lockup interval for Rivian ends on Sunday. 

  • Ford will promote the shares with the assistance of Goldman Sachs Group Inc GS
  • In March, Rivian reported fourth-quarter income of $54 million, lacking a consensus estimate of $60 million. 

Additionally Learn: Rivian CEO: Uncooked Materials Scarcity Will Severely Restrict EV Battery Manufacturing

  • The EV producer mentioned in March it’s anticipated to supply 25,000 electrical vans and SUVs this 12 months. 
  • The full fiscal 12 months income was $55 million with 920 car deliveries. The corporate delivered 909 autos within the fourth quarter.  
  • JPMorgan Chase & Co JPM additionally plans to promote a Rivian share block of between 13 million and 15 million for an unknown vendor.

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