Ford Motor Company (F) canceled its plans to co-develop an electric vehicle (EV) with California-based EV maker Rivian Automotive Inc. (RIVN), according to Reuters. Noatbly, shares of Rivian with a current market capitalization of $110 billion are up 28% since it went public on November 10. Ford continues to have a 12% ownership in Rivian. See Top Smart Score Stocks on TipRanks >> This is not the first time Ford has abandoned its joint venture with Rivian. Earlier, Ford had dropped its plan to build a new Lincoln from Rivian's EV chassis and hardware. Despite discontinuing the collaboration, Ford continues to target global production capacity of 600,000 by late 2023.
https://www.tipranks.com/news/ford-drops-plans-to-jointly-develop-ev-with-rivian-automotive?utm_source=advfn.com&utm_medium=referral
Ford Motor (NYSE:F)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more Ford Motor Charts.
Ford Motor (NYSE:F)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more Ford Motor Charts.