(New York) The American manufacturer Ford announced on Tuesday that its fourth quarter accounts will include an exceptional gain of 8.2 billion dollars linked to its investment in the maker of electric pickup trucks and pickup trucks Rivian, which went public with a bang at the end of 2021.
Posted at 7:29 p.m.
The venerable manufacturer, which is due to publish its quarterly results on February 3, entered into a partnership with the start-up in 2019.
Ford has since given up developing an electric vehicle with Rivian, as planned in the initial agreement, but has retained its shares in the young company of which it owns around 12%.
Gold Rivian surged upon its arrival on Wall Street in early November, being worth more than $100 billion before falling back.
Ford has therefore “re-evaluated” its stake in the company and will record an accounting gain of $8.2 billion in the fourth quarter, a press release explains.
The group will also reclassify a $900 million gain on its investment in Rivian recorded in the first quarter of 2021 as an exceptional item, which has changed its forecast for adjusted profit before tax and interest.
Ford also warned that it would record a gain of $3.5 billion over the period linked to a revaluation of the sums set aside for the retirement of its employees, as well as an exceptional gain of $3.6 billion. billions of dollars related to changes in the calculation of its taxes.
The manufacturer will also record a charge of $ 1.7 billion related to the purchase of debts over the period.