Mike Mozart
Market capitalization of Ford exceeded $100 billion for the first time - at the trading on January 13 the share price of the carmaker reached the maximum for 20 years - at the peak of $25.87 for a paper. Ford is now in fourth place in market value among carmakers, ahead of only Tesla, Toyota and Volkswagen, CNBC reports.
The company's shares jumped 5.7% to $25.87 a share. Ford's plans to boost production of electric cars, including the Mustang Mach-E crossover and an electric version of the popular F-150 pickup, may have contributed to the growth. The latter is due to hit the market this spring.
Increased production of EV vehicles is part of a transformation plan at Ford+. The plan was initiated by CEO Jim Farley (who took over in October 2020). It should make the carmaker's traditional operations more profitable and redirect revenues to autonomous and electric vehicles.
With a capitalisation above $100bn, Ford is ahead of General Motors (market value $90bn) and Rivian Automotive ($75bn). Meanwhile, the company lags behind Tesla (over $1 trillion), Toyota ($346 billion), and Volkswagen ($121 billion). Tesla surpassed $1 trillion in capitalization last October and returned to that level in December.
source: cnbc.com
The company's shares jumped 5.7% to $25.87 a share. Ford's plans to boost production of electric cars, including the Mustang Mach-E crossover and an electric version of the popular F-150 pickup, may have contributed to the growth. The latter is due to hit the market this spring.
Increased production of EV vehicles is part of a transformation plan at Ford+. The plan was initiated by CEO Jim Farley (who took over in October 2020). It should make the carmaker's traditional operations more profitable and redirect revenues to autonomous and electric vehicles.
With a capitalisation above $100bn, Ford is ahead of General Motors (market value $90bn) and Rivian Automotive ($75bn). Meanwhile, the company lags behind Tesla (over $1 trillion), Toyota ($346 billion), and Volkswagen ($121 billion). Tesla surpassed $1 trillion in capitalization last October and returned to that level in December.
source: cnbc.com
