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Ford's Stock Rises After the Company Announces Plans to Expand Its Hybrid Ev Lineup

April 4, 2024
minute read

Early on Thursday, Ford Motor Co.'s stock witnessed a 1.5% increase following the announcement that it would be broadening its offering of hybrid electric vehicles in response to the surging demand.

According to the company's statement, "By the conclusion of the decade, Ford anticipates providing hybrid powertrains throughout its entire Ford Blue lineup in North America."

During the first quarter, the company experienced an 86% surge in electric vehicle (EV) sales and a 42% increase in hybrid sales compared to the same period in the previous year.

Furthermore, Ford disclosed plans to adjust the launch timing of EVs at its Oakville, Ontario facility to 2028 from the initial 2025 target. Simultaneously, the company aims to enhance its infrastructure to facilitate the production of next-generation EVs. These initiatives encompass both greenfield construction projects and the conversion of existing assembly plants.

The extended timeline will afford the consumer market for three-row EVs additional time to evolve, enabling Ford to leverage emerging battery technology effectively.

Ford also anticipates commencing consumer deliveries of its upcoming all-new electric truck in 2026 and scaling up production at its Tennessee Electric Vehicle Center assembly plant situated in BlueOval City.

The company provided insights into ongoing developments at the plant, stating, "In addition to paint shop and vehicle assembly equipment, installation is also underway for nearly 4,000 tons of stamping equipment that will produce the sheet metal stampings for Ford’s next all-new electric truck."

Moreover, Ford outlined its intentions to continue its expansion efforts at the Ohio Assembly Plant in Avon Lake, where it plans to manufacture a new electric commercial vehicle for Ford Pro customers, beginning in the mid-decade. Tool installation at this facility is slated to commence in 2025.

Additionally, a dedicated team in California is actively engaged in the development of a smaller, cost-effective, profitable, and flexible EV platform capable of high-volume car production.

Year-to-date, Ford's stock has appreciated by 12%, outpacing the S&P 500, which has seen a 9% increase over the same period.

Valentyna Semerenko
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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