Plans by Ford to invest $7 billion in electric vehicle production facilities have gone down well with investors.

Shares in the car maker nearly quadrupled in price between April 2020 and June 2021 as investors snapped up stock beaten up by the
global market crash, as well as the market applauding its ambition to be a major player in the electric vehicle industry.

While Ford’s shares slipped back over the summer of 2021, they have started to pick up once again over the past few weeks.

Ford is to build its biggest ever factory in Tennessee and two battery parks in Kentucky in partnership with South Korean battery maker, SK Innovation, which will invest $4.4 billion.

Like many places in the world, the US has a desire to reduce emissions and make it easier for residents to switch to electric vehicles. Key to this success is making sure there is adequate charging infrastructure and making vehicles affordable to the mass market.

‘This is our moment – our biggest investment ever – to help build a better future for America,’ says Ford chief executive Jim Farley. ‘We are moving now to deliver breakthrough electric vehicles for the many rather than the few.’

Ford’s third quarter earnings will be published on 27 October where it is forecast to report $33.2 billion in revenue, according to Refinitiv, up from $26.8 billion in the second quarter.

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