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Ford sees $8.2 billion in investment after Rivian IPO



Ford Motor Co. is expected to record a profit of $8.2 billion in Q4 from its investment in Rivian Automotive Inc. following the electric truck maker’s initial public offering late last year.

The legacy automaker disclosed earnings Tuesday along with some special items it plans to report when Ford announces earnings on Feb. 3. The Dearborn-based company, Michigan will also reclassify about $900 million in zero-money gains from the Rivian investment from the first quarter. of last year is a special item, which means it will be excluded from the full year’s adjusted results, according to a statement.

The revelations suggest that Ford continued to benefit from its connection to the startup even after the auto giant stepped down from Rivian’s board in September and later announced it was abandoning the plan. develop together tram. Ford, which has invested a total of $1.2 billion in Rivian since the start of 2019, has a 12% stake that the company says was valued at more than $10 billion as of early December.

Since listing in November, the biggest IPO of 2021, Rivian has been on a roller coaster ride. Shares peaked at more than $172, but have fallen 57% since then as the company faces new competition in the electric vehicle market. Rivian was briefly valued at more than $100 billion, then more valuable than Ford, but Ford later regained the lead after hitting a valuation of $100 billion for the first time last week.

Ford stock was little changed in after-hours trading Tuesday in New York, while Rivian rose less first%.

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