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Highlights
- Ford Motor Company (F) starts shipping its E-Transit commercial vans across the US.
- The company has already received 10,000 orders from 300 customers for the vans.
- Ford’s Kansas City plant will assemble all electric vehicles and batteries in-house.
Ford Motor Company (F) on Tuesday began shipping its E-Transit commercial vans across the US. The transit van is the all-electric vehicle of the company built for commercial customers.
The company’s Kansas City plant is assembling the batteries and the electric vehicles in-house.
Ford sold 143,531 vehicles in the US in January. It also saw record orders - a staggering 90,000 new vehicles, up from 71,000 in the same month a year.
Around 37% of Ford’s retail sales in January were from previously placed orders.
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Ford’s electric vehicles portfolio increased nearly four times with its E-Transit and F-150 Lightning ready to enter the market. The company has already received over 10,000 orders from 300 customers ranging from the municipalities to retailers for E-Transit vans.
The company plans to invest more than US$30 billion through 2025 to meet the increasing demand. E-Transit is the latest EV from Ford after Mushtang Mach-E.
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Source - pixabay
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For Vehicle Deliveries
Ford will start deliveries of the F-150 Lightning and F-150 Lightning vehicles in Spring.
The company expects its annual production capacity to increase to 600,000 EVs by the end of 2023. This includes over 200,000 Mustang Mach-E SUVs and 150,000 F-150 Lightning trucks. It is also working on expanding E-Transit van productions.
The Dearborn, Michigan-based Ford Motor manufactures automobiles under the Ford and Lincoln brands. Ford has about 186,000 employees, including 58,000 UAW workers. Its market capitalization is US$71.02 billion, the dividend yield is 2.23%, and the P/E ratio is 4.
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Bottomline
Despite increased EV sales in 2022, the Ford (F) stock fell 18.6% YTD. On February 8, the stock closed at US$17.72, down 0.95%.
