Ford Motor to put $500-million into electric vehicle startup Rivian [Toronto Globe and Mail (Ontario, Canada)]
Ford Motor Company (F)
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Source: Toronto Globe and Mail
Ford Motor to put $500-million into electric vehicle startup Rivian Ford Motor Co said on Wednesday it will invest $5 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley’s Tesla Inc . Ford said it will use Rivian’s “skateboard” – a chassis that bundles electric motor, batteries and controls – to build a new vehicle for North America. It did not provide details on what type of vehicle, and where or when it would be built. Michigan-based Rivian, founded in 29, has raised more than $1.5 billion from investors. A company spokesman declined to provide a valuation for the company, but investor website Dealroom.com estimates Rivian’s value at $5 billion to $7 billion. Story continues below advertisement Related: All-electric pickups and SUVs are coming, and Rivian wants to be first out of the gate Tesla’s market value is around $45 billion, while Ford’s market cap is just under $38 billion. In midday trade, F
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News
- Global CNG & LPG Vehicle Market Size To Exceed USD 8.44 Billion By 2033 | CAGR of 4.57% [Yahoo! Finance]Yahoo! Finance
- GM and Ford count on gas-powered trucks as EV growth slows [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Test-Driving The 2024 Ford Maverick Lariat [Forbes]Forbes
- 2024 Ford F-150 Lightning Price Drops As More Electric Pickups Arrive [Forbes]Forbes
- Ford inches higher after six straight sessions of losses [Seeking Alpha]Seeking Alpha
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Earnings
- 2/6/24 - Beat
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Sec Filings
- 4/5/24 - Form DEFA14A
- 4/3/24 - Form 8-K
- 4/2/24 - Form PX14A6G
- F's page on the SEC website