Ford sees $8.2 billion return on investment after Rivian IPO

Ford Motor Co. announced Rivian Automotive Inc. in the fourth quarter following the electric truck maker's initial public offering of Blockbuster late last year.  The legacy automaker disclosed profits Tuesday, along with a few special items that Ford will report when it announces earnings on Feb. According to the Means to Do statement, Dearborn, a Michigan-based company, will reclassify approximately $900 million of non-monetary income on Rivian investments from the first quarter, which was excluded from year-round adjusted results last year, as a special item. Was.  The disclosures indicate that after the auto giant left Rivian's board of directors in September, Ford continued to benefit from its ties to startups and subsequently abandoned its co-development plans. Electric car.. Ford, which has invested a total of $1.2 billion in Rivian since the beginning of 2019, owns a 12% stake and is worth more than $10 billion as of early December, the company said.  Rivian has been on a roller coaster since its November list, which was the biggest IPO in 2021. Shares peaked at over $172, but have since fallen 57% as the company faces new competition in the market. Electric Vehicle. Rivian was temporarily valued at more than $100 billion and was worth more than Ford, but after first crossing $100 billion last week, Ford regained its lead.     Ford's stock price changed little during after-hours trading in New York on Tuesday, but Rivian said 1%.

Ford Motor Co. announced Rivian Automotive Inc. in the fourth quarter following the electric truck maker's initial public offering of Blockbuster late last year.

The legacy automaker disclosed profits Tuesday, along with a few special items that Ford will report when it announces earnings on Feb. According to the Means to Do statement, Dearborn, a Michigan-based company, will reclassify approximately $900 million of non-monetary income on Rivian investments from the first quarter, which was excluded from year-round adjusted results last year, as a special item. Was.

The disclosures indicate that after the auto giant left Rivian's board of directors in September, Ford continued to benefit from its ties to startups and subsequently abandoned its co-development plans. Electric car.. Ford, which has invested a total of $1.2 billion in Rivian since the beginning of 2019, owns a 12% stake and is worth more than $10 billion as of early December, the company said.

Rivian has been on a roller coaster since its November list, which was the biggest IPO in 2021. Shares peaked at over $172, but have since fallen 57% as the company faces new competition in the market. Electric Vehicle. Rivian was temporarily valued at more than $100 billion and was worth more than Ford, but after first crossing $100 billion last week, Ford regained its lead.

Ford's stock price changed little during after-hours trading in New York on Tuesday, but Rivian said 1%.

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