Ford Motor Co. It surpassed $ 100 billion in market value for the first time Thursday as more investors bet on the Detroit automaker’s electrification strategy.
Shares in the company, which more than doubled in value last year, were up 3.7% in afternoon trading after hitting a high of more than two decades earlier in the session.
Ford now worth more than its centennial rival General Motors, whose market capitalization is approximately $ 88.61 billion and the electric vehicle start-up Rivian Automotive, whose value is about 77.800 million dollars.
Automakers are still overshadowed by the electric vehicle leader, Tesla, which has a market capitalization of more than $ 1 trillion.
Earnings from Ford They come amid his plans to double the production capacity of the electric version of his hugely popular pickup F-150 150,000 vehicles as part of CEO Jim Farley’s aggressive electrification strategy.
Demand for the electric truck F-150 Lightning it’s been red hot and Ford it had to stop taking reservations before its arrival this spring at US dealerships.