The once-promising strategic partnership between Ford and Rivian is “nearly complete” after a new SEC filing shows Ford trimmed its stake to just 10.5 million shares in 2022.
Ford trims Rivian stake to a mere 1.15% ownership
The partnership began in 2019 after Ford invested $500 million in Rivian, marking a key milestone in the company’s shared vision of accelerating sustainable mobility.
In addition to the investment, Ford said it would use Rivian’s electric platform to develop its own Ford or Lincoln-branded EV alongside its planned F-150 electric pickup (now known as the F-150 Lightning) and Mustang-inspired electric crossover (the Mustang Mach-E).
Initial plans included for Ford to take over some production capacity at Rivian’s Illinois factory, but Ford announced in April 2020 it would be moving away from using Rivian’s platform, as a message to employees stated:
As we moved through the development cycle, we determined that it would be better to pivot from the Rivian skateboard platform and focus our development efforts.
Despite a spokesperson claiming Ford and Rivian will continue to be great partners, the two agreed it would be better to focus on their own projects.
In April 2022, Ford reported a $5.4 billion write-down on its investment after Rivian’s stock collapsed over 70% from its highs. Ford’s SEC filing in May 2022 showed Ford owned 86.9 million shares after selling seven million for $26.88 per share.
Ford F-150 Lightning Lariat off-road (source: Ford)
After releasing fourth quarter and full year 2022 earnings earlier this month, Ford’s CFO told investors and analysts the company was providing its first quarter regular dividend of $0.15 per share alongside a supplemental one of $0.665 per share, “reflecting our strong free cash flow and the monetization of our Rivian stake, which is now nearly complete.”
Ford’s latest SEC filing on Wednesday indicated the automaker reduced its stake further to just 10.5 million shares or 1.15% of Rivian’s stock. Last week, Ford reported another write-down in its investment of $7.3 billion.
Rivian’s stock is down 70% over the past year, and the EV maker has struggled to turn a profit as it looks to achieve full-scale production.
Meanwhile, Ford’s CEO Jim Farley says the company’s next-generation EV pickup and electric platform are “deep in development.”
Electrek’s Take
It looks like the strategic partnership between Ford and Rivian has fallen through. Although it would have been fascinating to see what the young EV startup and legacy automaker could have developed, it’s likely best they go in separate directions.
To make an electric vehicle (and make it profitably), developing in-house technology will be critical to streamlining production. Farley has recently said Ford is “going back to our Model A” in reference to bringing component manufacturing back.
We’ll update you if we hear more about the situation.
FTC: We use income earning auto affiliate links.More.
Over the weekend, Tesla began offering many Cybertruck trade-in estimated values above the original purchase price, apparently due to a glitch in its system.
Tesla offers online trade-in estimates for individuals considering purchasing a vehicle from them.
Over the last few days, Cybertruck owners who submitted their vehicles through the system were surprised to see Tesla offering extremely high valuations on the vehicle, often above what they originally paid for the electric truck.
Here are a few examples:
Advertisement – scroll for more content
$79,200 for a 2025 Cybertruck AWD with 18,000 miles. Since this is a 2025 model year, it was eligible for the tax credit and Tesla is offering the same price as new without incentive.
Here Tesla offered $118,800 for a 2024 Cybertruck ‘Cyberbeast’ tri-motor with 21,000 miles.
In this example, Tesla offers $11,000 more than the owner originally paid for a 2024 Cybertruck.
So, trade in the Foundation Series Cybertruck AWD for $11k more than I paid for it originally, re-buy an AWD with FSD for $79,490 after the tax credit.
I’d lose free supercharging for life, Cyberwheels, and white interior.
The trade-in estimates made no sense. Tesla has been known to offer more attractive estimates online and then come lower with the official final offer, but this is on a whole different level.
Some speculated that Tesla’s trade-in estimate system was malfunctioning, while others thought Tesla was indirectly recalling early Cybertrucks.
It appears to be the former.
Some Tesla Cybertruck owners who tried to go through a new order with their Cybertruck as a trade-in were told by Tesla advisors that the system was “glitching” and they would not be honoring those prices.
Tesla told buyers that it would be refunding its usually “non-refundable” order fee.
Electrek’s Take
That’s a weird glitch. I assume that it was trying to change how the trade-in value would be estimated and the new math didn’t work for the Cybertruck for whatever reason.
It’s the only thing that makes sense to me.
The Cybertruck’s value is already quite weird due to the fact that Tesla still has new vehicles made in 2024, which are not eligible for the tax credit incentive, while the new ones made in 2025 are eligible.
There’s also the Foundation Series, which bundles many features for a $20,000 higher price.
All these things affect the value and can make it hard to compare with new Cybertrucks offered with 0% interest.
FTC: We use income earning auto affiliate links.More.
Like a 90s “gifted” kid that was supposed to be a lot of things, the electric Jeep Wagoneer S never really found its place — but when dealers started discounting the Jeep brands forward-looking flagship by nearly $25,000 back in June, I wrote that it might be time to give the go-fast Wagoneer S a second look.
Whether we’re talking about Mercedes-Benz, Cerberus, Fiat, or even Enzo Ferrari, outsiders have labeled Jeep as a potentially premium brand that could, “if managed properly,” command luxury-level prices all over the globe. That hasn’t happened, and Stellantis is just the latest in a long line of companies to sink massive capital into the brand only to realize that people will not, in fact, spend Mercedes money on a Jeep.
Advertisement – scroll for more content
That said, the Jeep Wagoneer S is not a bad car (and neither is its totally different, hideously massive, ICE-powered Wagoneer sibling, frankly). Built on the same Stellantis STLA Large vehicle platform that underpins the sporty Charger Daytona EVs, the confusingly-named Wagoneer S packs dual electric motors putting out almost 600 hp. That’s good enough to scoot the ‘ute 0 to 60 mph in a stomach-turning 3.5 seconds and enough, on paper, to convince Stellantis executives that they had developed a real, market-ready alternative to the Tesla Model Y.
With the wrong name and a sky-high starting price of $66,995 (not including the $1,795 destination fee), however, that demand didn’t materialize, leaving the Wagoneer S languishing on dealer lots across the country.
That could be about to change, however, thanks to big discounts on Wagoneer S being reported at CDJR dealers in several states:
Jeff Belzer’s in Minnesota has a 2025 Wagoneer S Limited with a $67,790 MSRP for $39,758 ($28,032 off)
Troncalli CDJR in Georgia has a 2025 Wagoneer S Limited with a $67,590 MSRP for $42,697 ($24,893 off)
Whitewater CDJR in Minnesota has a 2025 Wagoneer S Limited with a $67,790 MSRP for $43,846 ($23,944 off)
Antioch CDJR in Illinois has a 2025 Wagoneer S Limited with a $67,790 MSRP for $44,540 ($23,250 off)
“Stellantis bet big on electric versions of iconic American brands like Jeep and Dodge, but consumers aren’t buying the premise,” writes CDG’s Marcus Amick. “(Stellantis’ dealer body) is now stuck with expensive EVs that need huge discounts to move, eating into already thin margins while competitors focus on [more] profitable gas-powered vehicles.”
All of which is to say: if you’ve found yourself drawn to the Jeep Wagoneer S, but couldn’t quite stomach the $70,000+ window stickers, you might want to check in with your local Jeep dealer and see how you feel about it at a JCPenneys-like 30% off!
Jeep Wagoneer S gallery
Original content from Electrek; images via Stellantis.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. The best part? No one will call you until after you’ve elected to move forward. Get started, hassle-free, by clicking here.
FTC: We use income earning auto affiliate links.More.
Multinational equipment brand SANY just launched a clever new 50-ton reach stacker that pairs gravity and an F1-style KERS system to generate electricity, improve operating efficiency, and reduce costs. The best part: they’re putting that smart tech to work by helping clean up (and shore up) the grid.
Short for Kinetic Energy Recovery System, KERS was a staple of Formula 1 in the late aught and 2010s. Essentially an advanced form of regenerative braking, KERS captured the kinetic energy of a car at speed that would normally be lost as heat when the brake pads pressed against the brake discs. Instead of heat, KERS converted that energy into electricity (storing it in a battery or flywheel), to be deployed later.
Sebastian Vettel explains KERS
4x WDC Sebastian Vettel explains KERS.
In practice, KERS gave drivers an extra boost of horsepower at the push of a button, enabling them to attack or defend their position on track and adding a fresh strategic element to the sport. In SANY’s case, that stored power is fed back into the reach stacker’s electric hydraulic system, reducing pressure loss across the high-pressure setup by 50%, and lowering the machine’s overall energy consumption by more than 60%.
Energy recovery is a key feature. The potential energy of the boom, lifting gear and energy storage cabinets during the boom’s descent can be recovered efficiently with an overall recovery efficiency of over 65%. That means every 1 kWh of consumption in lifting can be recovered by 0.4 kWh during descent.
The 50t reach stacker is available with a 512 kWh swappable battery pack that’s compatible with other SANY heavy equipment assets, and supports both DC fast charging when swapping isn’t practical or (for whatever reason) desirable.
Advertisement – scroll for more content
On a single charge and backed by the onboard KERS, that’s good enough for the machine can lift and move containers for more than 7 continuous hours, which SANY claims significantly reducing downtime for charging compared to other, similar equipment assets.
The new SANY reach stacker can stack six 50-ton containers, greatly enhancing a site’s container and battery storage density within a limited space. The first units will reach unnamed customers building out a utility-scale energy storage project by the end of this month.
Regardless of which one you choose, it seems like the available options for reach stacker operators are just getting better and better!
SOURCE | IMAGES: SANY.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.