Ford no longer plans to make an electric vehicle with EV startup Rivian, CEO Jim Farley tells Automotive News. The Detroit automaker originally announced it wanted to make a Rivian-powered EV in 2019 when it made its first investment of $500 million into the startup. Ford and Rivian already canceled a vehicle they planned to make for the Lincoln luxury brand in 2020.

“When you compare today with when we originally made that investment, so much has changed: about our ability, about the brand’s direction in both cases, and now it’s more certain to us what we have to do,” Farley said. “We want to invest in Rivian — we love their future as a company — but at this point, we’re going to develop our own vehicles.”

One reason Farley gave for canceling the EV collaboration was the complexity of combining Rivian’s electric architecture with Ford’s in-house software.

“As Ford has scaled its own EV strategy and demand for Rivian vehicles has grown, we’ve mutually decided to focus on our own projects and deliveries,” Miranda Jimenez, a spokesperson for Rivian, said in a statement provided to The Verge. “Our relationship with Ford is an important part of our journey, and Ford remains an investor and ally on our shared path to an electrified future.”

Ford announced this week that it plans to double the number of EVs it will build globally by the end of 2023 to 600,000.

Source

LennX

4564 Posts

November 22 2021 15:50 GMT

#1764

https://www.cnbc.com/2021/11/22/biden-picks-jerome-powell-to-lead-the-fed-for-a-second-term-as-the-us-battles-covid-and-inflation.html

Biden picks Jerome Powell to lead the Fed for a second term as the U.S. battles Covid and inflation

Printers primed and printing. Its still early but the market is deep in the green today

LegalLord

United States13779 Posts

November 22 2021 16:11 GMT

#1765

I doubt any other Fed chair would do anything different. If any of them stop printing, the Ponzi scheme that is our economy falls apart overnight. As Powell himself found out just about three years ago, in fact.

{CC}StealthBlue

United States41117 Posts

November 22 2021 17:05 GMT

#1766

Powell is guilty of selling stocks while being Fed chair before the October collapse of last year. Pure coincidence I'm sure.

Emnjay808

United States10665 Posts

November 22 2021 17:35 GMT

#1767

I’m not soliciting FA but I’m wondering if anyone else is looking for an entry point into ATVI.

Ive been eyeing it for a while since the first allegations came to light a few months ago. Someone said it’ll drop to 40 (here or the allegations thread) and it looks like it’s on track to do so. Just wondering how u got to that number. That looked to be the support level of 2019?

{CC}StealthBlue

United States41117 Posts

November 22 2021 17:40 GMT

#1768

That was me. I stated that Kotick would not be forced to leave until the stock price fell below $40 bucks as at that number is when even the Board members and major shareholders would see their margins wiped out and the longer he sticks around the worse it could get.

But I am also of the notion that Kotick and Co. would rather see the company burn to the ground rather than relinquish control. Given the shady history of how they took control of ATVI in the first place.

Emnjay808

United States10665 Posts

November 22 2021 18:14 GMT

#1769

Got it thanks. But money prevails. I’m betting the board folds before we get to the 40s.

{CC}StealthBlue

United States41117 Posts

November 24 2021 21:27 GMT

#1770

$HOOD is now below $30 bucks and still falling lol

{CC}StealthBlue

United States41117 Posts

November 26 2021 14:12 GMT

#1771

Today is going to be a bloodbath.

But we might actually see a Circuit Breaker action in the morning if the futures are accurate.

LennX

4564 Posts

November 26 2021 17:40 GMT

#1772

On November 26 2021 23:12 {CC}StealthBlue wrote:
Today is going to be a bloodbath.

But we might actually see a Circuit Breaker action in the morning if the futures are accurate.

No circuit breaker action. Brough forward my monthly DCA to today. I believe the selldown is too extreme and it will be green on Monday.

{CC}StealthBlue

United States41117 Posts

November 26 2021 17:44 GMT

#1773

Yeah were not even close to 7%, right now it is over 2% it was near 4% earlier, correction and the market closes in about an hour lol

Vivax

22204 Posts

November 26 2021 17:56 GMT

#1774

Odd to see this correction on a weakening dollar when for many the narrative was that it's the driver behind higher prices, the usd/mxn pair is in takeoff tho.
Curious to see if the latest squeeze was the last gasp of the most shorted stocks basket.

If there's going to be any news then during the weekend when retail is trapped

LegalLord

United States13779 Posts

November 26 2021 21:56 GMT

#1775

This is actually good for stock prices because the Fed will have an incentive not to taper and we might even get to have another student loan postponement. Great!

Considering buying the dip. The pullback in the past week or so was disappointing for stock price, but hoping to buy even lower.

{CC}StealthBlue

United States41117 Posts

November 27 2021 20:37 GMT

#1776

The way things are looking think Monday will be a red day as well, no idea how bad though as we still have Sunday. But Europe could be looking a solid lockdown soon as the variant is spreading all over rapidly.

Edit: Less than 30 minutes and the Czech Republic, and maybe even Austria are added to the list.

LegalLord

United States13779 Posts

November 28 2021 23:09 GMT

#1777

You can probably save yourself the trouble and assume it's already in every large country, even if not yet confirmed.

I don't expect a long downturn, and perhaps even a green day on Monday. It doesn't really look like a worst case scenario at all, just bad enough for a smidge of lockdown and a smidge of stimulus to keep the money flowing.