Ford Is Shifting Gears: Ambitious Plans For EV Production
Portfolio Pulse from AJ Fabino
Ford Motor Co (NYSE:F) CEO Jim Farley announced the company's future strategy, focusing on cutting costs, raising product quality, and shifting towards software, services, and new vehicle offerings. Ford aims for a 10% pretax profit margin by 2026 and plans to reduce the number of parts in its vehicles. The automaker is targeting a two million EV production run rate by 2026 and has announced deals to supply lithium products for its EV division.
May 22, 2023 | 8:06 pm
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Albemarle Corporation (NYSE:ALB) is one of the companies that Ford has signed agreements with to supply lithium products for its electric vehicle division.
Albemarle Corporation's agreement with Ford to supply lithium products for its EV division is expected to have a positive short-term impact on its stock price. The deal with a major automaker like Ford could lead to increased demand for Albemarle's lithium products and potentially boost its revenues.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Compass Minerals International, Inc (NYSE:CMP) is one of the companies that Ford has signed agreements with to supply lithium products for its electric vehicle division.
Compass Minerals International's agreement with Ford to supply lithium products for its EV division is expected to have a positive short-term impact on its stock price. The deal with a major automaker like Ford could lead to increased demand for Compass Minerals' lithium products and potentially boost its revenues.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Ford's new strategy focuses on cutting costs, raising product quality, and shifting towards software, services, and new vehicle offerings. The automaker targets a 10% pretax profit margin by 2026 and a two million EV production run rate.
Ford's new strategy is expected to have a positive short-term impact on its stock price, as it focuses on cutting costs, raising product quality, and shifting towards software, services, and new vehicle offerings. The company's ambitious EV production target and deals to supply lithium products for its EV division also signal a strong commitment to the growing EV market, which could attract investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100