(Reuters) – Shares in Rivian Automotive Inc fell 14% on Monday after a report by Ford that an early investor would be selling a portion of the stake.

Rivian shares traded at $24.77. This is a significant drop from the record $179.5 set in November 2013.

CNBC, which cited sources, reported that Ford has sold 8 million Rivian stock shares since the lockup period for the stock expired on Sunday. Refinitiv data shows that Ford was Rivian’s fourth biggest shareholder, with a 11.4% share.

Rivian’s market is competitive, with Ford’s F-150 Lightning electric pickup trucks threatening Rivian, and a supply chain crisis limiting Rivian’s production.

Due to problems in the supply chain, the electric-car manufacturer had to reduce its 2022 production by half and instead produce 25,000 units.

Irvine-based firm has seen its value drop by three quarters this year while it delivered only 1,227 vehicles in the first quarter.

Rivian’s second largest shareholder, Amazon.com Inc. (NASDAQ:), saw a 59% drop in operating income during its first quarter. This was largely due to its carmaker investments. Rivian also has Amazon as a major customer and it expects to get 100,000 delivery vans before 2024.

JPMorgan Chase (NYSE) plans to also sell a Rivian block between 13 million to 15 million shares from an unidentified seller, CNBC reported. The price is $26.90 per share and similar to Ford’s.

These companies could not be reached immediately for comment.

Peer shares also fell as investors worried about whether electric-car manufacturers can produce enough cars to keep up with rising demand.

Lordstown Motors Corp. shares dropped 13% when the company stated that more money was needed to purchase its Endurance pickup truck.