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.
Picture: Courtesy of rivian.com
