Ford’s Amped-Up Electric Vehicle Strategy Boosts Shares, Tops GM’s Market Cap

by saying Ford would also boost its annual production target for the new F-150 Lightning pickup to 150,000 units from a previous 80,000-truck goal.

“The stock market’s attraction to the Ford EV story continues to take us by surprise,” Adam Jonas, an equity analyst at Morgan Stanley, said in a research note Thursday. “While there are many OEMs developing and commercializing a range of EVs today, Ford brought to market a product that consumers viewed as a truly viable competitor to the Tesla Model Y. Quickly following that, Ford is bringing to market the F-150 Lightning at a sub $40k price point right out of the gate.

Ford’s 12% stake in startup electric truckmaker Rivian also benefits the company, Jonas said. And though unlike either Rivian or Tesla, Ford didn’t design a completely new platform for the Lightning, modifying its existing F-150 design, “This decision has enabled Ford to move FASTER to market. Will it be the most capable EV pickup truck on the road? Maybe not . . .

The Lightning, unveiled in May 2021, starts with a base price of $39,974 and driving range of 230 miles per charge for a version aimed at commercial customers. Top-end models capable of going 300 miles per charge and more luxurious features will cost more than $90,000. Ford has said it has at least 200,000 reservations for the truck. Tesla CEO Elon Musk also promised that the Cybertruck would have a base price of $39,900 and a range of 250 miles per charge.

Tesla late last month removed a reference on its website to Cybertruck’s initial availability being in 2022,

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Ford’s Amped-Up Electric Vehicle Strategy Boosts Shares, Tops GM’s Market CapFord’s plans to accelerate production and sales of battery-powered crossovers and pickups are turbocharging the company’s shares this month
Fuente: Forbes - 🏆 394. / 53 Leer más »

Ford’s Amped-Up Electric Vehicle Strategy Boosts Shares, Tops GM’s Market CapFord’s plans to accelerate production and sales of battery-powered crossovers and pickups are turbocharging the company’s shares this month
Fuente: Forbes - 🏆 394. / 53 Leer más »

Ford crosses $100 billion in market value as it dives into EVsFord is now worth more than its century-old rival General Motors, whose market cap stands at about $88.61 billion and EV start-up Rivian Automotive, whose value is about $77.8 billion.
Fuente: therealautoblog - 🏆 528. / 51 Leer más »