Ford chief executive Jim Farley has indicated that the automaker isn’t yet sure what it will do with its stake in Rivian, which is currently valued at around $8 billion.
The automaker famously invested $1.2 billion in Rivian before the electric startup went public and that investment has increased sevenfold. That’s a sizable amount of money that Ford could use with its transition towards electrification and during an interview with Bloomberg TV, Farley said that while it doesn’t currently have plans to sell its Rivian stake, it has options.
“We’ll look at everything,” he said. “Everything is on the table. Our lock-up period ends in May.”
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“It’s been a great investment, we really like R.J.,” Farley added. “The fact of the matter is that we’re both almost in the same segment. And so, we’ll work through that. I’ve always seen this as a strategic investment.”
Farley acknowledged that Ford and Rivian are competing in the same segments with the F-150 Lightning and the Rivian R1T, as well as Rivian’s Amazon van and the all-electric E-Transit. However, Farley does not expect cross-shopping between the automakers, at least not for the time being.
“[The R1T] is really for a lifestyle off-road; ours is really kind of a work truck, a working person’s vehicle, he said. “E-Transit is very different than their Amazon van… but we are in the same segments.”
Ford’s chief executive added that while Ford and Rivian will no longer co-develop a vehicle, “there are a lot of possibilities that we could do with Rivian beyond just building a vehicle together. I won’t go further with that.”
