Ford Motor Co sold 8 million shares of electric vehicle maker Rivian Automotive Inc for $214 million, or $26.80 a share, the US automaker said in a filing on Tuesday. Ford now owns 93.9 million or 10.5% shares in the California-based company. Shares of Rivian opened Monday at an all-time low after CNBC reported on the deal over the weekend. Ford now holds nearly 94 million shares, or 10.5%, and remains the fourth-largest shareholder in the Irvine, California-based company, according to Refinitiv data.

Rivian is struggling in a competitive market, including Ford’s F-150 Lightning electric pickup truck, and a supply chain crisis is limiting production at its factories. The electric car maker earlier halved its planned 2022 production to 25,000 vehicles. Ford’s May 9 price of $26.8 a share was below Rivian’s Friday closing price of $28.79. Shares of Rivian have fallen nearly 21% since CNBC reported the sale over the weekend.

Amazon reported a 59% drop in its operating income in the first quarter, largely hurt by investments in the automaker. The US retail giant is also one of Rivian’s main customers, expecting to receive 100,000 delivery vans by 2024. The fall in the value of Ford’s stake in Rivian led to a first-quarter net loss of $3.1 billion.