Car Detail Guys

Automotive News From Around the World
Menu
  • best car polish
  • best car wax
  • best scratch remover
  • car detailing
  • car detailing products
  • car scratch remover
  • News
  • Reviews
  • scratch doctor
  • swirl marks on car
  • Technology
  • Top Stories
  • Uncategorized

Ford sees $8.2 billion gain on its investment following Rivian’s IPO

Jeff Lincoln January 19, 2022

Ford Motor Co. expects to file a acquire of $8.2 billion in the fourth quarter on its expense in Rivian Automotive Inc. immediately after the electric powered-truck maker’s blockbuster initial community providing late final yr.

The legacy automaker disclosed the obtain Tuesday alongside with several special merchandise it intends to report when Ford releases earnings on Feb. 3. The Dearborn, Michigan-based mostly organization will also reclassify a noncash gain of about $900 million on the Rivian financial commitment from the initially quarter of last calendar year as a specific merchandise, this means it will be excluded from the total-12 months altered effects, according to a statement.

The disclosures clearly show Ford proceeds to acquire from its relationship to the startup even after the vehicle giant exited Rivian’s board in September and subsequently declared it had abandoned plans to jointly build an electrical vehicle. Ford, which has invested a full of $1.2 billion in Rivian because early 2019, has a 12% stake that the organization has explained was valued at more than $10 billion in early December.

Considering the fact that a November listing that was the largest IPO of 2021, Rivian has been on a roller coaster. The shares peaked at additional than $172, but have tumbled 57% because then as the company faced new competitors in the electrical-motor vehicle sector. Rivian was briefly valued at a lot more than $100 billion, then far more precious than Ford, but Ford has subsequently reclaimed the guide after it topped $100 billion in value for the initially time very last week.

Ford (F) earnings Q3 2021Read more

Ford shares had been minor adjusted in following-hrs investing Tuesday in New York, even though Rivian climbed less than 1%.

Linked Online video:

Prev Article
Next Article

Related Articles

U.S. auto dealers report mixed January results
The couple remaining automakers who nonetheless report regular monthly U.S. …

U.S. auto dealers report mixed January results

Biden orders EV federal fleet by 2035, all of government carbon-neutral by 2050
WASHINGTON — President Joe Biden on Wednesday signed an government …

Biden orders EV federal fleet by 2035, all of government carbon-neutral by 2050

About The Author

Jeff Lincoln

Recent Posts

  • Audi Future Electric Cars
  • Audi Future Electric Cars
  • Audi Future Electric Cars
  • Audi Future Electric Cars
  • Audi Future Electric Cars

Car Detail Guys

Automotive News From Around the World
Copyright © 2023 Car Detail Guys
Theme by Fashion Lift Tape

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}