Ford considering selling Rivian stake - Rivian and Ford will not jointly develop products
Published on 12-06-2021 05:03 PM
Bad blood brewing between the two companies? Perhaps. As the Rivian R1T beat the Ford F-150 Lightning to market Ford and Rivian last month announced they would no longer jointly develop any future EV projects.
Now Ford is stating they may exit their Rivian position:
On Rivian, the analysts said they believe Ford views its investment in Rivian "as a financial one, so they may eventually sell-down to help fund Ford's organic investment or other cash calls." Ford Chief Executive Jim Farley last month vowed that Ford would become the second largest U.S. electric-vehicle maker.
This seems to be corporate speak from Rivian about the breakup:
Originally Posted by
Rivian
As Ford has scaled its own EV strategy and demand for Rivian vehicles has grown, we’ve mutually decided to focus on our own projects and deliveries. Our relationship with Ford is an important part of our journey, and Ford remains an investor and ally on our shared path to an electrified future.
It is certainly clear that Rivian is on a roll and the R1T is the premier truck in the EV segment.
Ford Stake in Rivian is 12% and over $10 billion recently depending on the stock price.
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