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Ford cuts Rivian stake to 1.15% after posting $7.4 bn write-down
Ford Motor Co sold the majority of its stake in EV maker Rivian and is now left with a 1.15% stake or 10.5 million shares, according to an exchange filing. The sale comes a week after Ford reported a loss of $7.4 billion on its investment in Rivian in 2022. Ford also sold 15 million shares of Rivian last year.
read more at Reuters