We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ford Partners With Volkswagen for EVs, Recalls 2.5M Vehicles
Read MoreHide Full Article
Ford Motor Company (F - Free Report) and Volkswagen AG (VWAGY - Free Report) recently reached an outline agreement, which was first announced in July 2019, to enhance ownership experiences for current and future customers in Europe and other regions. The agreement is likely to strengthen the existing partnership between these two major auto giants to produce mid-size pick-up trucks, and commercial and electric vehicles (EVs).
Ford plans to design and manufacture a medium-sized pick-up truck that will be sold by Volkswagen within its commercial vehicles line-up, Amarok, beginning in 2022. This will also improve the commercial-vehicle businesses of both firms by 2021, with a city-delivery van based on the new Caddy model, designed and produced by Volkswagen and later, a Ford-created 1-ton cargo truck. By the end of 2020, the companies also aim to manufacture a highly-differentiated Ford electric vehicle built on Volkswagen's Modular Electric Drive (MEB) platform for Europe, expanding Ford's zero-emission capabilities in the area. The companies plan to deliver up to 8 million of the medium pick-up truck and both commercial vans under the alliance.
In addition, both companies will work with Argo AI to create separate, highly capable autonomous vehicle businesses based on the self-driving technology of Argo AI. Notably, Volkswagen closed its previously-announced investment with Argo AI last week, in which Ford already had ownership and development interests.
Meanwhile, Ford recently recalled 2.15 million vehicles in the United States over a defective door latch. The recall allegedly affects vehicles produced during 2011-16, Fiesta, C-Max, Focus, Mustang, Fusion, Escape, Transit Connect, Lincoln MKZ and MKC.
Moreover, Ford expects assembly plants in the United States to start manufacturing vehicles at the pre-pandemic rates by Jul 6, 2020, as states continue to ease shelter-in-place strategies and reopen processes imposed as a result of the coronavirus outbreak. Also, by mid-2022, the company plans to have all-electric versions of the Ford F-150 and Ford Transit available in the market.
Zacks Rank & Stocks to Consider
Ford currently carries a Zacks Rank #3 (Hold). Shares of the company have depreciated 26.8%, year to date, compared with the industry’s rise of 39.1%.
Shares of Tesla have soared 145.1%, year to date, compared with the industry’s rise of 39.2%.
Shares of Niu have gained 36.2%, year to date, as against the industry’s decline of 7.9%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Ford Partners With Volkswagen for EVs, Recalls 2.5M Vehicles
Ford Motor Company (F - Free Report) and Volkswagen AG (VWAGY - Free Report) recently reached an outline agreement, which was first announced in July 2019, to enhance ownership experiences for current and future customers in Europe and other regions. The agreement is likely to strengthen the existing partnership between these two major auto giants to produce mid-size pick-up trucks, and commercial and electric vehicles (EVs).
Ford plans to design and manufacture a medium-sized pick-up truck that will be sold by Volkswagen within its commercial vehicles line-up, Amarok, beginning in 2022. This will also improve the commercial-vehicle businesses of both firms by 2021, with a city-delivery van based on the new Caddy model, designed and produced by Volkswagen and later, a Ford-created 1-ton cargo truck. By the end of 2020, the companies also aim to manufacture a highly-differentiated Ford electric vehicle built on Volkswagen's Modular Electric Drive (MEB) platform for Europe, expanding Ford's zero-emission capabilities in the area. The companies plan to deliver up to 8 million of the medium pick-up truck and both commercial vans under the alliance.
In addition, both companies will work with Argo AI to create separate, highly capable autonomous vehicle businesses based on the self-driving technology of Argo AI. Notably, Volkswagen closed its previously-announced investment with Argo AI last week, in which Ford already had ownership and development interests.
Meanwhile, Ford recently recalled 2.15 million vehicles in the United States over a defective door latch. The recall allegedly affects vehicles produced during 2011-16, Fiesta, C-Max, Focus, Mustang, Fusion, Escape, Transit Connect, Lincoln MKZ and MKC.
Moreover, Ford expects assembly plants in the United States to start manufacturing vehicles at the pre-pandemic rates by Jul 6, 2020, as states continue to ease shelter-in-place strategies and reopen processes imposed as a result of the coronavirus outbreak. Also, by mid-2022, the company plans to have all-electric versions of the Ford F-150 and Ford Transit available in the market.
Zacks Rank & Stocks to Consider
Ford currently carries a Zacks Rank #3 (Hold). Shares of the company have depreciated 26.8%, year to date, compared with the industry’s rise of 39.1%.
Some better-ranked stocks in the same sector are Tesla, Inc. (TSLA - Free Report) and Niu Technologies (NIU - Free Report) . While Tesla sports a Zacks Rank of 1 (Strong Buy), Niu carries a Zack Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Tesla have soared 145.1%, year to date, compared with the industry’s rise of 39.2%.
Shares of Niu have gained 36.2%, year to date, as against the industry’s decline of 7.9%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>