Shares Rivian AutomotivePremarket trading fell Monday after a CNBC report about Ford Motor Plans. to sell 8 million sharesStart-up for an electric car

Rivian stock fell 19% to $24 per share in extended trading. This could add to the company’s significant losses over the course of this year. The automaker’s shares closed below $30 Friday, the lowest level since November’s blockbuster IPO. This year, the stock has fallen 72%.

Stock lockup for early investors and company insiders FordIt expired Sunday.

CNBC’s David Faber reported Saturday that Ford will sell 8 million Rivian shares to Goldman Sachs. Rivian shares are currently owned by the Detroit automaker. Ford spokesperson declined to comment Monday morning.

People familiar with the plan told Faber that JPMorgan Chase plans to also sell a Rivian block of shares ranging from 13 million to 15 million, for an unknown buyer. Each block of stock is priced at $26.90 per share.

Rivian stated in March it expected to produce 25,000 electric trucks and SUVs this yearThe start-up is struggling with internal production problems and supply chain restrictions. This would only be half the amount of vehicle production that it projected to investors as part of last year’s IPO roadshow.

After Wednesday’s close of the market, the company will report its first quarter results.