Photo: Rivian
Earlier this week, Ford sold off a total of eight million shares in EV-maker Rivian Automotive, getting back $214 million at a valuation of $26.80 per share. The Blue Oval still holds some 94 million shares, which comes down to a 10.5% stake – Ford remains Rivian’s fourth-largest shareholder.
Rivian is currently struggling with competition from other carmakers, as well as a supply chain issue. The latter is limiting production at its plants, with the EV-maker being forced to slash its planned 2022 production in half to 25,000 units. As for the competition part, the Rivian R1T has plenty of reasons to fear the likes of the Chevrolet Silverado EV or Ford’s own F-150 Lightning.
According to Reuters, Ford’s selling price of $26.8 per share on Monday was lower than Rivian’s close of $28.79 on Friday. Rivian shares have gone down nearly 21% since it was first reported that Ford ditched these 8 million shares – that type of drop is nothing to scoff at.
The EV-maker's largest shareholder is still T.Rowe Price Associates, with an 18.2% stake, followed by Amazon with a 17.7% stake. The U.S. retail giant also happens to be a key customer for Rivian and is expecting to receive delivery of 100,000 vans by 2024.
As for everyone else who might want to place an order for one of Rivian’s two available models, $67,500 will get you through the door for a Rivian R1T pickup truck, while the R1S SUV variant costs a minimum of $72,500.
Both models can accelerate to 60 mph (97 kph) in as little as 3 seconds flat (depending on configuration) and can tow anywhere between 7,700 and 11,000 lbs – the truck is the one with the highest tow rating, obviously. Otherwise, they both boast the same 14.9 inches of ground clearance and 3+ ft wading depth.
According to Reuters, Ford’s selling price of $26.8 per share on Monday was lower than Rivian’s close of $28.79 on Friday. Rivian shares have gone down nearly 21% since it was first reported that Ford ditched these 8 million shares – that type of drop is nothing to scoff at.
The EV-maker's largest shareholder is still T.Rowe Price Associates, with an 18.2% stake, followed by Amazon with a 17.7% stake. The U.S. retail giant also happens to be a key customer for Rivian and is expecting to receive delivery of 100,000 vans by 2024.
As for everyone else who might want to place an order for one of Rivian’s two available models, $67,500 will get you through the door for a Rivian R1T pickup truck, while the R1S SUV variant costs a minimum of $72,500.
Both models can accelerate to 60 mph (97 kph) in as little as 3 seconds flat (depending on configuration) and can tow anywhere between 7,700 and 11,000 lbs – the truck is the one with the highest tow rating, obviously. Otherwise, they both boast the same 14.9 inches of ground clearance and 3+ ft wading depth.
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