Ford has reached a record market valuation thanks to EVs and is projected to increase even more.
www.autoblog.com
"Ford's market value breached $100 billion for the first time on Thursday, as more investors bet on the Detroit automaker's electrification strategy.
The company's shares, which have more than doubled in value last year, were up 3.7% in afternoon trade after hitting a more than two-decade high earlier.
Ford is now worth more than its century-old rival General Motors, whose market cap stands at about $88.61 billion and EV start-up Rivian Automotive, whose value is about $77.8 billion.
But, the automakers are still dwarfed by EV leader Tesla, which has a market cap of over $1 trillion.
Shares of Tesla were down 4.7% on Thursday after a report said the company updated its Cybertruck model webpage to remove references to the year 2022."
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Ford crosses $100 billion in market value as it dives into EVs
Ford is now worth more than its century-old rival General Motors, whose market cap stands at about $88.61 billion and EV start-up Rivian Automotive, whose value is about $77.8 billion.
www.autoblog.com
The company's shares, which have more than doubled in value last year, were up 3.7% in afternoon trade after hitting a more than two-decade high earlier.
Ford is now worth more than its century-old rival General Motors, whose market cap stands at about $88.61 billion and EV start-up Rivian Automotive, whose value is about $77.8 billion.
But, the automakers are still dwarfed by EV leader Tesla, which has a market cap of over $1 trillion.
Shares of Tesla were down 4.7% on Thursday after a report said the company updated its Cybertruck model webpage to remove references to the year 2022."
