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Ford (F) Announces Details on EVs Slated for Launch by 2021
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Ford Motor Company (F - Free Report) has announced details regarding seven of the thirteen new global electric vehicles (EV) that are scheduled for launch by 2021.
The vehicles include a new fully-electric SUV which will provide a range of 300 miles. It will be manufactured at the company’s Flat Rock plant and will be sold in North America, Europe and Asia. Next is a high-volume autonomous vehicle which will mainly be serving as a ride sharing service in North America. This vehicle will be introduced in 2021 and will also be built at the Flat Rock plant.
The line of vehicles also includes hybrid versions of the iconic F-150 pickup. Slated for launch in 2020 and produced at the Dearborn Truck plant, the pickup and will be sold in North America and the Middle East. The vehicles also include a hybrid of the Mustang which will feature V8 power and extra low-end torque. The Mustang hybrid will be manufactured at the Flat Rock Plant and sold in North America. The vehicle is likely to be launched in 2020.
The other vehicles include Transit Custom plug-in hybrid which will be showcased in 2019 in Europe. This vehicle will help reduce operating costs. Lastly, two pursuit-rated hybrid police vehicles are also lined up for launch. One of the vehicles will be produced in Chicago. Both these vehicles will be equipped with police gear from Ford’s dedicated police vehicle modification center in Chicago.
Ford also announced plans to invest around $700 million in the Flat Rock Assembly Plant, MI. The investment will be used for expanding the plant which mainly produces high-tech autonomous and electric vehicles together with Mustang and Lincoln Continental. The plant will be manufacturing small utility vehicles with extended battery range and fully autonomous cars for ride-sharing. Ford also expects this expansion drive to open up the scope to hire around 700 direct workers.
Ford also said that this investment is part of the $4.5 billion plan that the automaker will undertake for EVs till 2020. The company expects this investment to help it offer customers more fuel efficient, capable and powerful vehicles.
Ford focuses on being an auto and mobility company which will offer the best electric and autonomous vehicles as well as mobility solutions. The automaker also intends to offer a broad range of EVs. Ford expects its strategies to help its EV count exceed gasoline vehicles over the next 15 years.
Ford also intends to cancel the investment of $1.6 billion for building new plants in San Luis Potosi, Mexico. The company will instead be producing the next-generation Focus at the existing plant in Hermosillo, Mexico, in order to boost profits.
In the last one year, Ford’s shares have lost 11.6% while the Zacks categorized Auto Manufacturers-Domestic industry saw a 4.9% rise. The drop in the stock price was largely a result of weak operating results across most regions and dismal forecast for the full year.
Zacks Rank & Key Picks
Ford currently carries a Zacks Rank #4 (Sell).
Better-ranked companies in the auto space include The Goodyear Tire & Rubber Company (GT - Free Report) , Modine Manufacturing Company (MOD - Free Report) and GKN plc .
Meanwhile, Goodyear Tire and GKN carry a Zacks Rank #2 (Buy). Goodyear Tire has a long-term growth rate of 17.2% while GKN has a long-term growth of 6.2%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>
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Ford (F) Announces Details on EVs Slated for Launch by 2021
Ford Motor Company (F - Free Report) has announced details regarding seven of the thirteen new global electric vehicles (EV) that are scheduled for launch by 2021.
The vehicles include a new fully-electric SUV which will provide a range of 300 miles. It will be manufactured at the company’s Flat Rock plant and will be sold in North America, Europe and Asia. Next is a high-volume autonomous vehicle which will mainly be serving as a ride sharing service in North America. This vehicle will be introduced in 2021 and will also be built at the Flat Rock plant.
The line of vehicles also includes hybrid versions of the iconic F-150 pickup. Slated for launch in 2020 and produced at the Dearborn Truck plant, the pickup and will be sold in North America and the Middle East. The vehicles also include a hybrid of the Mustang which will feature V8 power and extra low-end torque. The Mustang hybrid will be manufactured at the Flat Rock Plant and sold in North America. The vehicle is likely to be launched in 2020.
The other vehicles include Transit Custom plug-in hybrid which will be showcased in 2019 in Europe. This vehicle will help reduce operating costs. Lastly, two pursuit-rated hybrid police vehicles are also lined up for launch. One of the vehicles will be produced in Chicago. Both these vehicles will be equipped with police gear from Ford’s dedicated police vehicle modification center in Chicago.
Ford also announced plans to invest around $700 million in the Flat Rock Assembly Plant, MI. The investment will be used for expanding the plant which mainly produces high-tech autonomous and electric vehicles together with Mustang and Lincoln Continental. The plant will be manufacturing small utility vehicles with extended battery range and fully autonomous cars for ride-sharing. Ford also expects this expansion drive to open up the scope to hire around 700 direct workers.
Ford also said that this investment is part of the $4.5 billion plan that the automaker will undertake for EVs till 2020. The company expects this investment to help it offer customers more fuel efficient, capable and powerful vehicles.
Ford focuses on being an auto and mobility company which will offer the best electric and autonomous vehicles as well as mobility solutions. The automaker also intends to offer a broad range of EVs. Ford expects its strategies to help its EV count exceed gasoline vehicles over the next 15 years.
Ford also intends to cancel the investment of $1.6 billion for building new plants in San Luis Potosi, Mexico. The company will instead be producing the next-generation Focus at the existing plant in Hermosillo, Mexico, in order to boost profits.
FORD MOTOR CO Price
FORD MOTOR CO Price | FORD MOTOR CO Quote
Price Performance
In the last one year, Ford’s shares have lost 11.6% while the Zacks categorized Auto Manufacturers-Domestic industry saw a 4.9% rise. The drop in the stock price was largely a result of weak operating results across most regions and dismal forecast for the full year.
Zacks Rank & Key Picks
Ford currently carries a Zacks Rank #4 (Sell).
Better-ranked companies in the auto space include The Goodyear Tire & Rubber Company (GT - Free Report) , Modine Manufacturing Company (MOD - Free Report) and GKN plc .
Modine Manufacturing sports a Zacks Rank #1 (Strong Buy). The company has an expected earnings growth of around 11.2% for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meanwhile, Goodyear Tire and GKN carry a Zacks Rank #2 (Buy). Goodyear Tire has a long-term growth rate of 17.2% while GKN has a long-term growth of 6.2%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>