F - Ford Makes Another Smart Move With EVs
2024-07-21 09:45:00 ET
Recently, investors have heard from more and more analysts that it's time to change the strategy on electric vehicles (EVs). In fact, Bank of America analyst John Murphy went so far as to say Detroit automakers such as Ford Motor Company (NYSE: F) should focus on highly profitable trucks , reduce any footprint in China, and sidestep EVs until they can roll out vehicles around a similar profitability to Tesla. Ouch.
While Ford likely can't just halt its current EV strategy, we are seeing drastic moves that can hopefully move the needle for its EV losses, which could reach $5.5 billion in 2024. Here's the latest smart move Ford made.
Ford just announced that it plans to expand production of its highly profitable Super Duty pickup line to its plant in Oakville, Ontario. That announcement is much more important than the headlines sound -- here's why.
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Ford Makes Another Smart Move With EVs