Ford CEO Farley talks EV tax credit, chip shortage

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CEOs will meet at the White House Wednesday in an effort to sell the stalled Build Back Better bill.

Shares of Ford Motor Company are up nearly 80% in the past year while GM shares are down over 1%. Ford has committed more than $30 billion to EVs by 2030 and recently announced it will build two electric truck and battery plants in Kentucky and one in Tennessee."I think we’re one of the first to scale. We’re committed to 600,000 units in 22 months from now," Farley told Trimble.

Ford sold around 27,000 Mustang Mach-E SUVs in 2021. It begins deliveries of its F-150 Lightning later this year. High demand for the all-electric pickup truck and the hybrid Maverick pickup truck led the automaker to stop taking reservations.Interest in the Maverick, with an MSRP of $19,995, comes as new vehicle prices are at an all-time high, up about 12% from a year ago, according to Consumer Price Index data.

Source: Loan Digest (loandigest.net)

 

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