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Ford’s market value reaches $ 100 billion for the first time

Detroit, Michigan: For the first time, Ford Motor Company’s market value has exceeded $ 100 billion as more investors are investing in electric vehicle strategies.

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

Ford is currently more valuable than its rival General Motors, which has a market capitalization of about $ 88.61 billion, and Rivian Automotive, an electric vehicle startup with a market capitalization of about $ 77.8 billion, but of EV leaders who have a market. Still dwarfed by Tesla cap of over $ 1 trillion.

In its profits, and as part of CEO Jim Farley’s aggressive electrification strategy, Ford has decided to double the production capacity of the EV version of the popular F-150 pickup truck to 150,000 units. I am planning.

We also had to stop booking the F-150 Lightning Electric Pickup before arriving at a US dealer in the spring of 2022.

After taking office as CEO in 2020, Farley has promised to invest more than $ 30 billion in electric vehicles, including battery development, by 2030.

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

Deutsche Bank analyst Emmanuel Rothner raised Ford’s price target from $ 18 to $ 24, while “Ford’s fourth-quarter performance was a continuous high to offset the headwinds of growing raw materials. Based on this, we see room for more than consensus expectations. “

The median target for Ford’s Wall Street is $ 21.85.

Ford’s market value reaches $ 100 billion for the first time

Source link Ford’s market value reaches $ 100 billion for the first time

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