Ford Makes $8.2B Gain on Rivian Investment
Jan. 20, 2022—Ford Motor Co. on Tuesday said its fourth quarter earnings included an $8.2 billion gain on its Rivian investment.
The surge comes after Rivian hit a $100 billion valuation in its initial public offering earlier this year, though per a report from Reuters, shares in Rivian have dropped more than 27 percent since that point.
Ford currently owns around 12 percent of the California-based EV startup and is becoming increasingly involved in its own EV pursuits, pledging to invest $30 billion into EVs by 2030.
In 2019, the two companies announced a plan to develop a joint electric vehicle, though that was scrapped last year.