Ford Motor Co. has decided to continue offloading Rivian stock, with the burgeoning electric vehicle manufacturer at roughly $24 per share. After divesting itself of 8 million shares earlier this month, Blue Oval sold another 7 million ahead of the weekend — leaving itself holding about 9.7 percent of the company.
With 86.9 million shares leftover from the sale, Ford remains a relevant stakeholder. However, investors are growing worried that the legacy manufacturer will continue dumping Rivian as a way of salvaging future losses. Ford, which previously owned some 102 million shares in Rivian, endured a massive $3.1-billion loss in its first quarter as the value of its investment in the company slumped. Worse still, investors are souring on tech and EV stocks in general.
TagbertI had this JX, though mine was a 5-speed in dark green. Got it when I lived in the mountains in Colorado. That was a fun little beast. Not super fast, but it could go just about anywhere. Put it into the low speed on the transfer case and that thing would just creep forward. The interior was not fancy but it held up well to lots of outdoor activities. I could hold lots of gear. Later when I moved away, it still proved useful. I was an unofficial “roadie” for my boyfriend and his band. Could get all their gear into it. The in-town gas mileage was around 25 mph which is pretty good. On the downside, the highway mileage was maybe 26 mph 😊.
SkippityI had a 308 in the 80's. Said Matchbox on the bottom.
ToolGuyWhen The Grand Tour covered the Manx way back in 2016, my first thought was "That would make an ideal EV candidate." Range is not an issue, lightweight, torquey, quiet and harmonious with nature (to the end user).Could I be a prophet??
BetterOneNot sure where you got your info from, Corey, but in North America the 2020 Cadenza continued on with the direct-injected 3.3L Lambda II V6. Apart from a larger infotainment screen, the 2020 was notably decontented from the prior model, too - no HUD or power rear sunshade, for example.
Inside Looking OutIt looks rather like Mini than VW. It would be nice to have solar panels on the roof, or make it delta wing.