Ford Will Not Scrap Combustion And Hybrid Vehicles For EVs: 'That's Not Our Strategy,' Says CEO
Portfolio Pulse from Anan Ashraf
Ford Motor Co (NYSE:F) will continue to focus on combustion engine vehicles and hybrids while scaling its EV business, according to CEO Jim Farley. The company will delay its $12 billion EV investment, including its EV battery plant in Kentucky. Despite a loss in earnings before interest and taxes of $1.3 billion in Q3, Ford remains bullish on its EV future. The company withdrew its full-year guidance due to uncertainty over a new workers' contract with the United Auto Workers union.
October 27, 2023 | 12:45 pm
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Ford's decision to delay its EV investment and focus on combustion engine vehicles and hybrids could impact its stock in the short term. The company's Q3 loss and uncertainty over a new workers' contract could also affect investor sentiment.
Ford's decision to delay its EV investment could be seen as a negative by investors who are bullish on the EV market. The company's Q3 loss and the uncertainty over a new workers' contract could also negatively impact investor sentiment and the stock price in the short term.
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