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    Ford jumps into EV and has a market value of over $ 100 billion

    Ford Market value topped $ 100 billion for the first time on Thursday as more investors bet on Detroit’s automaker’s electrification strategy.

    The company’s share price, which more than doubled last year, rose 3.7% in the afternoon trading after hitting a high more than 20 years ago.

    Ford is now more valuable than its 100-year-old rival General Motors, Market capitalization is about $ 88.61 billion, EV startup Rivian The car is worth about $ 77.8 billion.

    But car makers are still dwarfed by EV leaders Tesla, Market capitalization exceeds $1 Trillion.

    Tesla’s stock fell 4.7% on Thursday following reports that the company updated its Cybertruck model web page to remove references to 2022.

    Ford’s profits come in plans to double the production capacity of its very popular electric version. F-150 Pickup trucks on 150,000 vehicles as part of CEO Jim Farley’s aggressive electrification strategy.

    Demand F-150 Lightning The electric pickup was bright red and Ford had to stop making reservations truck Before arriving in the United States this spring dealer..

    Ford’s Farley, who became CEO in 2020, has promised to invest more than $ 30 billion in EVs. battery Development, by 2030.

    The EV strategy has boosted Wall Street brokerage firms and Deutsche Bank is the latest to raise Ford’s price targets.

    Deutsche Bank analyst Emmanuel Rosner said, while raising the price target from $ 18 to $ 24, “Ford’s fourth-quarter performance is based on continued highs that offset rising raw material headwinds. We see room for more than consensus expectations. “

    The median price target for Wall Street is $ 21.85.

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    Ford jumps into EV and has a market value of over $ 100 billion

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    The post Ford jumps into EV and has a market value of over $ 100 billion appeared first on Eminetra.

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