Ford to spend $3 billion to expand large truck production to a plant previously set for EVs
Publishing timestamp: 2024-07-18 14:41:53
Summary
Ford Motor will expand production of its large Super Duty trucks to a Canadian plant instead of converting it into an all-electric vehicle hub. The company plans to invest about $3 billion to expand Super Duty production, with the Canadian plant expected to come online in 2026. Investors responded favorably to the news, sending Ford stock to a new 52-week high. The move is seen as a shift towards investing in highly profitable Super Duty models compared to money-losing EVs.
Sentiment: MIXED
Tickers: F,
Keywords: ford motor co, breaking news: business, business news, autos, business, detroit, transportation,
Source: https://www.cnbc.com/2024/07/18/ford-canada-large-truck-production.html