Ford Motor Co's market value breached US$100 billion for the first time on Thursday, as more investors bet on the Detroit automaker's electrification strategy.
Ford is now worth more than its century-old rival General Motors, whose market cap stands at about US$88.61 billion and EV start-up Rivian Automotive, whose value is about US$77.8 billion. Shares of Tesla were down 4.7per cent on Thursday after a report said the company updated its Cybertruck model webpage to remove references to the year 2022.
Demand for the F-150 Lightning electric pickup has been red hot and Ford has had to stop taking reservations for the truck ahead of its arrival this spring at U.S. dealers.
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