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InsideEVs
InsideEVs
Technology
Steven Loveday

Ford Aims To Cut Losses, Will Sell 8 Million Rivian Shares After Huge Loss

Rivian Ford Amazon Automotive News

The media recently reported that Ford will sell 8 million of its shares in Rivian. To no surprise, the startup electric pickup truck maker's shares tumbled in premarket trading following the announcement.

Rivian's share price is currently down over 18 percent in premarket trading after being down some 10 percent when Ford's stock sale announcement was made public. Ford currently owns an impressive 12 percent of Rivian's shares, which equates to about 102 million shares in total.

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