Ford’s stake in EV truck start-up Rivian is worth more than $10 billion in first day of trading


Rivian electric trucks are seen parked near the Nasdaq MarketSite building in Times Square on November 10, 2021 in New York City.

Michael M. Santiago | Getty Images

A major winner following electric vehicle start-up Rivian Automotive‘s blowout IPO on Wednesday is ironically one of its competitors, Ford Motor.

Ford owns about 12% of the company through equity and bond investments that started in 2019, according to public filings by Rivian. Based on Rivian’s closing price of $100.73 a share Wednesday following its Nasdaq debut, Ford’s roughly 102 million shares of the company, which include notes that convert to shares in June, are worth about $10.3 billion alone. It purchased its equity…


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