Do not have to build an electric car itself: Ford makes over 8 billion with participation in competitor
Rivian Automotive Do not have to build an electric car itself: Ford makes over 8 billion with competition
Ford presented its business results for the past year. In advance was from one "Update to certain special items" The talk that the US car maker wanted to publish. Now it is known what it was about: Ford made over $ 8 billion in profit in the fourth quarter of 2021 with his participation in electric car maker Rivian.
Ford has announced that the business results for the fourth quarter of 2021 include a profit of $ 8.2 billion from his participation in the electric start-up Rivian, the equivalent of almost 7.2 billion euros. According to the Reuters news agency, Rivian had recorded the largest IPO of 2021.
Since 10. November last year Rivian is listed at the US TechnologieS Nasdaq. The stock was offered for $ 78 during the IPO, but then rose to more than a hundred dollars on the first day of the stock exchange. Rivian achieved the previous value maximum in mid -November at $ 172 per share – at that time the electric car maker was more worth more than Volkswagen, although the company only delivered a few cars.
Rivian’s share price now corrected downwards
For Ford’s business results, the value of the Rivian share for the 31st. December 2021, this was only $ 104 at the end of the year. Since then, the value of the share has corrected even further down: at the time when this article was written, it was only $ 60.
This is also the big downer for Ford: The approximately $ 8 billion profits are a pure book win, since Ford has probably not sold its shares so far. It is unclear at what price Ford bought its shares from Rivian, since Ford was already involved in Rivian before the IPO was involved. At the current stock price of the electric car maker, Ford’s profit should be significantly lower, but Ford may have even lost loss.
But no Ford electric car based on Rivian
Ford is an early investor in Rivian and currently has around 12 percent of the company based in California. In 2019, the 118-year-old carmaker invested $ 500 million in Rivian, including because Ford wanted to use the Rivian electroplayer for the construction of a new Ford electric car. Ford dropped these plans again in 2021.
The commercial giant Amazon also holds around 20 percent of the shares in Rivian. Amazon has an order over 100.000 electric delivery vans at Rivian, which are to be delivered to Amazon by the end of the decade.
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This article was written by Tobias Stahl
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