Swiss Central Bank Reduces Lucid Motors Investment by 36%, Sells Off Portions of Rivian and Tesla Holdings

Switzerland’s central bank reduced its position in luxury electric vehicle maker Lucid by 36 percent while also trimming its stakes in Rivian and Tesla by 3 percent and 4 percent, respectively. The Swiss National Bank held 1.8 million shares of Lucid, valued at $5.1 million at the end of the first quarter. Lucid announced a workforce reduction while Rivian also saw reductions in the Swiss bank’s holdings. Tesla, one of its largest holdings, also had a 4 percent stake sold. The Swiss National Bank started investing in Tesla in 2013 and has continued to adjust its position over the years.

Source: Cláudio Afonso | LinkedIn