Ford Motor Company (NYSE: F) Sold Rivian Automotive Inc (NASDAQ: RIVN) Shares at a Discount

Ford Motor Company (NYSE: F) reportedly sells its Rivian Automotive Inc (NASDAQ: RIVN) shares at a discount. The company owns about 12% of Rivian. Reports indicate that Ford lost $3 billion from these shares after a big stock decline.

Meanwhile, a leaked patent shows that Ford plans to create a technology that would allow drivers to rev their engines remotely using their keys. Ford filed this patent on November 3,/2020 and published it on May 5, 2022. This feature shows that Ford wanted to create things that would make customers happy rather than serve a basic purpose.

Ford Maverick does well despite a poor paint job

However, the company does not seem successful in making its customers happy. Recently, one owner of a Ford Maverick commented that the vehicles barely had any paint on them. He now recommends having someone detail the vehicle before letting others handle it as it could easily get scratches.

The paint job in the vehicle is not a surprise as the company made a lot of concessions to keep it at a certain price. Fortunately, the bad paint job hasn’t been a significant issue for Ford as it has gotten many positive reviews on its vehicle.

Ford Foundation releases a guide on future equity

Ford Foundation recently released Reimagine Recovery: A playbook for an equitable future. This guide describes how leaders could reshape the governance, political, economic, and social, for a more equitable future. The Foundation has worked to support non-profits affected by the pandemic. Currently, it is trying to help people recover in the long term.

BMW has also joined Ford and General Motors in the DTE Smart Charge Program. This initiative lowers the stress on the energy, thus optimising electric cars’ charging. Moreover, it could help reduce the electricity people use to charge electric vehicles.

DTE, based in Michigan, is an energy company focused on clean energy. The company is among the few in the U.S to undertake the task.

Meanwhile, Zacks Analyst reports that Ford has outperformed the Zack Automotive-Domestic Industry. The analyst believes that Ford could have good performance due to its popular SUV models and F-series vehicles. Its 2022 guidance has also left investors hopeful.

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Published by Neha Gupta

Swati has worked in diverse capacities from financial research to currency trading in a span of 3 years.