Ford shares rose 3.4%, market value topped $100 billion

Tiger Newspress2022-01-13

Ford shares rose 3.4%, market value topped $100 billion.Ford Motor Co.’s market value topped $100 billion as investors bet on the 118-year-old automaker’s prospects in the dawning

The automaker’s new market cap exceeds rival General Motors Co. and electric truck startup Rivian Automotive Inc. But it still is a far cry from Tesla Inc., which investors have valued at more than $1 trillion.

The milestone comes as Ford is doubling production of the electric F-150 Lightning pickup going on sale this spring. The Dearborn, Michigan-based company also is ratcheting up production of the battery-powered Mustang Mach-E at a factory in Mexico.

The shares have been on a tear since Jim Farley became chief executive officer 15 months ago, after falling to a 10-year low under his predecessor. Farley accelerated Ford’s shift to electric and autonomous vehicles. He has pledged that Ford will manufacture 600,000 EVs a year by 2024 with more to come from battery and assembly plants the company is building in Tennessee and Kentucky.

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Comments

danieltalks
2022-01-14
danieltalks
Nice
Mindthink
2022-01-14
Mindthink
Wow
bostonxsgp
2022-01-14
bostonxsgp
lesgo
FlorCheah
2022-01-14
FlorCheah
Wow
RS142
2022-01-14
RS142
Good
LifeLearner
2022-01-14
LifeLearner
up and coming

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