Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Rivian Stock Dropped Today

TheMotleyFool

0 0

Shares of Rivian Automotive (NASDAQ: RIVN) declined by 8% on Monday after Ford (NYSE: F) halted its plans to build an electric vehicle (EV) with the upstart automaker.

Ford took a $500 million stake in Rivian in April 2019. The investment was part of a strategic partnership between the two automakers. At the time, Ford and Rivian planned to jointly create an "all-new, next-generation battery electric vehicle" using Rivian's development platform.

"As we continue in our transformation of Ford with new forms of intelligent vehicles and propulsion, this partnership with Rivian brings a fresh approach to both," former Ford CEO Jim Hackett said in a press release announcing the deal.

Source Fool.com

Like: 0

RIVN

Share