Market News

Swiss Bank Diversifies Portfolio: Sells Apple and GM Stock, Acquires Promising EV Stocks Rivian and Lucid

Acquires, Apple, Bank, Diversifies, Lucid, Portfolio, Promising, Rivian, Sells, Stock, Stocks, Swiss

Swiss National Bank Doubles Investments in Electric-Vehicle Makers

Swiss National Bank Doubles Investments in Electric-Vehicle Makers


The central bank of Switzerland, the Swiss National Bank, has made significant changes in its investments in technology and automakers. In the second quarter, the bank nearly doubled its investments in electric-vehicle makers Rivian Automotive and Lucid Group. It also sold its stock in Apple and General Motors.

Investment Changes

The Swiss National Bank bought 1.1 million more shares of Rivian Automotive in the second quarter, bringing its total investment to 2.3 million shares. Rivian stock has performed poorly in the past, but has seen a surge in the third quarter. The bank also purchased 1.5 million more shares of Lucid Group, ending the second quarter with 3.2 million shares.

On the other hand, the bank sold 6 million shares of Apple and 600,000 shares of General Motors in the second quarter.

Reasons for Investment Changes

The bank did not comment on its investment changes. However, it is worth noting that Rivian stock has performed well in the third quarter after reporting strong second-quarter deliveries. On the other hand, Lucid Group has been cutting prices of its electric vehicles, which has raised concerns about demand.

As for Apple, the company has faced challenges in China, including a ban on government officials using iPhones at work and competition from Huawei. General Motors has also faced challenges, including the possibility of a strike by the United Auto Workers and expected increases in labor costs for the industry.


The Swiss National Bank’s investment changes reflect its confidence in the potential of electric-vehicle makers. While Rivian stock has performed well in the third quarter, Lucid Group has faced challenges. Apple and General Motors have also faced their own challenges in the market. The bank’s investment decisions will continue to be closely watched by investors.

Leave a Comment