Ford to sell 8 million Rivian shares

Source: Sina Finance

Ford Motor (F.US) plans to sell its holdings of the so-called ” $ 8 million shares in Tesla’s (TSLA.US) $ killer electric car company.

Ford will sell the shares with the help of Goldman Sachs (GS.US) $ group, the sources said.

In March, Rivian reported fourth-quarter revenue of $54 million, missing market expectations. The company said it expects to produce 25,000 electric pickups and SUVs this year.

It is also reported that JPMorgan Chase (JPM.US) will also help an unnamed seller sell 13 million to 15 million shares of Rivian.

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