Ford has cut its stake in EV maker Rivisn to 1.15%. Ford held 11.4% stake in Rivian at the end of 2021. Ford, which wrote down the value of its Rivian investment by 7.4 Billion in 2022, has been paring down its stake amid production struggles at Rivian.
From Automotive News
We got what we wanted out of Rivian. With Model e and the support activities, we can develop our own EV vehicles and software/services that will be superior to theirs.
How many Rivian trucks have you seen on the roads in the metro-Detroit area? I saw one with non-company plate on it and about 3 with a manufacturer plate thus far.
Not impressive at all.