Ford, General Motors, and Stellantis are all re-evaluating their electric vehicle plans, scaling back investments and delaying launches due to lower-than-expected demand. The shift in strategy is impacting suppliers and workers, raising concerns about the future of the EV market.
BofA Securities analyst John Murphy has maintained a Buy rating on Ford Motor Co, setting a $20 price target based on the company’s revised product strategy. Murphy believes that Ford’s shift towards focusing on core strengths like commercial vans, large pickup trucks, and long-range SUVs, alongside investments in lowering EV costs, will drive profitability and earnings growth.
Ford Motor Co. announced a revised electrification strategy, including plans for new electric trucks and a van, as well as a shift to hybrid technology for its next three-row SUVs. The move aims to accelerate customer adoption of EVs while optimizing production and costs.
The electric pickup truck market is heating up with major players like General Motors, Ford, Tesla, and Rivian vying for dominance. While Ford currently leads the market with its F-150 Lightning, GM is entering the fray with its new Sierra EV, aiming to challenge the established players. Meanwhile, companies like Worksport are developing innovative accessories like portable energy systems and solar-powered tonneau covers that are set to further revolutionize the electric pickup landscape.
July 23 holds a special place in history, marking significant events like Ford’s first car sale, the launch of the space shuttle Columbia, and Eileen Collins’ historic space mission. This year, the day will be further marked by India’s Finance Minister presenting the national budget for 2024-25.
From the launch of Twitter to the tragic death of Gianni Versace, July 15th has witnessed a mix of significant events shaping technology, business, and the world. Explore the key milestones that occurred on this day in history.
Ford has unveiled the new Ford Capri, a fully-electric crossover that revives the iconic sportscar name. While it retains some design cues from the original, the new Capri is a modern family car with four doors, ample space, and a focus on technology.
Prime Minister Justin Trudeau and Ontario Premier Doug Ford visited Alliston, Ontario to announce a major investment in Honda’s electric vehicle production. The event highlighted Canada’s commitment to clean energy and job creation in the automotive sector.
