Ford Pauses $12B Electric Vehicle Investment Amid High Costs
Portfolio Pulse from Benzinga Neuro
Ford Motor Company (NYSE:F) has paused its $12 billion electric vehicle (EV) investment due to high costs and customer unwillingness to pay the premium. This includes the proposed EV battery factory in Kentucky. Ford's transition to EVs is taking longer than expected, with a reported $1.3 billion loss in adjusted earnings in the last quarter. Other automakers like General Motors Company (NYSE:GM) are also delaying production of their new EV models due to high costs and market conditions.
October 27, 2023 | 10:05 am
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NEGATIVE IMPACT
Ford's pause on its EV investment due to high costs and customer unwillingness to pay the premium could negatively impact its stock price in the short term.
The news of Ford pausing its EV investment due to high costs and customer unwillingness to pay the premium is directly related to the company and could negatively impact investor sentiment, leading to a potential decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
General Motors is also delaying production of their new EV models due to high costs and market conditions, which could negatively impact its stock price in the short term.
The news of General Motors delaying production of their new EV models due to high costs and market conditions is directly related to the company and could negatively impact investor sentiment, leading to a potential decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50