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Ford Crushes Rivian – Darlinez News.

<p> &lbrack;ad&lowbar;1&rsqb;<br &sol;>&NewLine;<&sol;p>&NewLine;<div>&NewLine;<div class&equals;"entry-content column content primary is-two-thirds">&NewLine;<div class&equals;"" style&equals;"padding-bottom&colon; 10px&semi;">&NewLine;<div class&equals;"">&NewLine;<p>&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<span class&equals;"tag is-dark is-uppercase">Autos<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;p>&NewLine;<div class&equals;"byline-container">&NewLine;<div class&equals;"post-date is-italic has-text-grey is-size-7 has-text-weight-medium ">&NewLine;<p>February 5&comma; 2023 10&colon;59 am<&sol;p>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<&sol;p><&sol;div>&NewLine;<p>Ford sold shares in Rivian worth about &dollar;3 billion last year&period; It got out just in time&period; Rivan continues to be troubled&comma; and its future is little better than cloudy&period; The press reported two key executives had left just a few weeks earlier&period; And it announced a second round of layoffs&period; The fact that Ford abandoned it was a final insult&period;<&sol;p>&NewLine;<p>Rivian won’t report earnings until later this month&period; Last month it announced it had made 10&comma;020 vehicles in the quarter and delivered 8&comma;054&period; Management did not comment on the numbers&comma; perhaps because they show how small Rivian is as it tries to get a foothold in the EV market&period;<&sol;p>&NewLine;<p>Rivian lost &dollar;1&period;7 billion in the most recently reported quarter&period; This was on revenue of &dollar;536 million&period; Rivian had over &dollar;13 billion in the bank by the end of that period&period; Some investors worry that it is not enough to take it to profitability&period;<&sol;p>&NewLine;<p>Another RIvian hurdle is that the EV industry is in the early stages of a price war&period; According to Investor&period;com&comma; Wedbush’s Dan Ives said Rivian might need to take the same path to stay competitive&period; Investors have another worry&comma; which in this case is margins&period;<&sol;p>&NewLine;<p>Finally&comma; looking at the EV industry shows how tough it is for a new company&period; Tesla will sell two million cars that year&period; Ford&comma; GM&comma; and most European and Asian manufacturers have spent tens of billions of dollars to convert most of their fleets to electric by the end of this decade&period;<&sol;p>&NewLine;<p>With its stock down 65&percnt; and Ford gone&comma; the optics get worse by the month&period;<&sol;p>&NewLine;<p>Click here to see the good&comma; the bad&comma; and the ugly of owning an F-150&period;<&sol;p>&NewLine;<p>&Tab;&Tab;&Tab;&Tab;<&excl;-- &num;post-footer--><&sol;p><&sol;div>&NewLine;

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