Today, the stock market of Ford is not good, demonstrating a negative sign by almost %7 to $22.45. Despite that, Ford owns around 12% of Rivian, the company that created the first serial electric pickup truck, the Rivian R1T. The number of paid pre-orders for the Rivian R1T has reached 71 thousand, while most buyers choose a car with an additional package worth $73 thousand, resulting in $ 5.2 billion in revenue for the manufacturer. The model’s serial production began in September 2021, and on December 15, just 652 Rivian automobiles with a total cost of $44 million rolled off the assembly line.
With this in mind, Ford Motor Co. expects to profit $8.2 billion from its investment in Rivian Automotive Inc. in the fourth quarter. From September to December, Rivian’s revenue from the sale of these machines amounted to $5.7 billion. This year, this indicator will increase, as it is planned to increase production of the Rivian R1T model in the first quarter. By the way, the company will publish its earnings on February 3.