Ford crosses $100 billion in market value as it dives into EVs

  • 📰 therealautoblog
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

.Ford's dive into EVs pushes it over $100 million in market capitalization, with a stock price that has more than doubled in a year:

Ford's market value breached $100 billion for the first time on Thursday, as more investors bet on the Detroit automaker's electrification strategy.

But, the automakers are still dwarfed by EV leader Tesla, which has a market cap of over $1 trillion. Ford's gains come amid its plans to double production capacity for the electric version of its hugely popular F-150 pickup truck to 150,000 vehicles as part of Chief Executive Jim Farley's aggressive electrification strategy.

Ford's Farley, who took over as CEO in 2020, has pledged to invest more than $30 billion on EVs, including battery development, by 2030.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 528. in CA

Canada Canada Latest News, Canada Canada Headlines