Ford crosses US$100 billion in market value for the first time

📆 14/1/2565 6:24:00
📰 ChannelNewsAsia

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Ford Motor Co's market value breached US$100 billion for the first time on Thursday, as more investors bet on the Detroit automaker's electrification strategy.The company's shares, which have more than doubled in value last year, were up 3.7per cent in afternoon trade after hitting a more than two-decade

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

Ford is now worth more than its century-old rival General Motors, whose market cap stands at about US$88.61 billion and EV start-up Rivian Automotive, whose value is about US$77.8 billion. Shares of Tesla were down 4.7per cent on Thursday after a report said the company updated its Cybertruck model webpage to remove references to the year 2022.

Demand for the F-150 Lightning electric pickup has been red hot and Ford has had to stop taking reservations for the truck ahead of its arrival this spring at U.S. dealers.

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