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Major U.S. automaker Ford blamed its sizable investment in electric vehicle (EV) company Rivian for its dramatic revenue decline in the first quarter of 2022.

“A net loss of $3.1 billion was primarily attributable to a mark-to-market loss of $5.4 billion on the company’s investment in Rivian,” Ford said in the earnings report.

Ford Reports Devastating Losses Thanks to Electric Vehicle Gamble – The Star News Network

via Real Climate Science

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May 5, 2022