Ford earns $17.9 billion in 2021, underpinned by a large return on its Rivian stake.
Ford Motor earns $17.9 billion in 2021, rebounding from 2020 losses, fueled by a big profit on a stake in fledgling electric-vehicle maker Rivian and increased output as its computer chip supply The company improved significantly in the second half of the year. .
The automaker reported revenue of $136 billion, up from $127 billion in 2020. This was the second year in a row that Ford reported more revenue than General Motors.
Ford reportedly raised $9.1 billion from its stake in Rivian, an electric pickup truck maker and other means. Rivian completed its initial public offering last fall, and its shares rallied after the start of trading but have fallen sharply since mid-November.
Ford said it expects certain item pre-earnings to grow 15% to 25% this year. “We are optimistic in 2022,” the company’s chief financial officer, John Lawler, said in a statement.
Ford is looking to a new electric pickup to boost sales in 2021. The truck, the F-150 Lightning, will enter production in the next few months and Ford says it has received more than 200,000. pre-orders from customers.
The company is also about to sell an electric delivery van that has attracted strong interest from its fleet and corporate customers.
https://www.nytimes.com/2022/02/03/business/ford-earned-17-9-billion-in-2021-bolstered-by-a-large-gain-on-its-rivian-stake.html Ford earns $17.9 billion in 2021, underpinned by a large return on its Rivian stake.