The number of Americans filing first-time applications for unemployment benefits unexpectedly rose last week, but the labor market is steadily recovering as additional fiscal stimulus and falling COVID-19 cases allow more services businesses to reopen.
Electric vehicles (EV) are a hot investing topic these days. Not so much because they constitute a significant share of auto sales, but more because the prices of EV-related stocks are skyrocketing on future speculation.President Joe Biden has said he wants the entire federal fle
China's search engine giant Baidu and automaker Geely have hired Mobike co-founder and former chief technology officer Xia Yiping as CEO of their new electric vehicle venture, according to two people with knowledge of the matter.
Truckmaker AB Volvo said on Thursday a shortage of semiconductors has hit production at its factory in Ghent, Belgium, and warned of further stoppages.
More than a dozen business groups representing automakers, medical device makers and manufacturers sent a letter to President Joe Biden on Thursday calling on him to work with U.S. lawmakers to provide federal funding for the construction of new chip factories.
Top economic and national security officials in the White House have ramped up efforts to help the U.S. auto industry fight a growing shortage of semiconductor chips that has forced production cuts worldwide, a White House spokeswoman said.
Ford Motor Co. announced a $1 billion investment into a new electric vehicle manufacturing center in Cologne, Germany as the US automaker plans to go all-electric in Europe by 2030.
The carmaker expects its first European-built all-electric passenger vehicle will roll off the assembly line starting in 2023. Ford (F) plans to have electric or plug-in hybrid models of its commercial vehicle range in Europe by 2024. By mid-2026, 100% of the company's passenger cars in Europe will be either electric or plug-in hybrid vehicles that will move to all-electric by 2030.
Two-thirds of Ford's commercial vehicle sales in Europe will be all-electric or plug-in hybrid by 2030, according to the plan.
Ford’s European business President Stuart Rowley said, “We successfully restructured Ford of Europe and returned to profitability in the fourth quarter of 2020. Now we are charging into an all-electric future in Europe with expressive new vehicles and a world-class connected customer experience.”
“We expect to continue our strong momentum this year in Europe and remain on track to deliver our goal of a six percent EBIT margin as part of Ford’s plan to turnaround our global automotive operations.” Rowley added.
At its recent 4Q results, Ford returned to profit in Europe and had announced that it planned to invest $22 billion globally in EV vehicles through 2025, nearly twice the company’s previous plans. (See Ford stock analysis on TipRanks)
Following Ford’s 4Q results earlier this month, Deutsche Bank analyst Emmanuel Rosner raised the stock’s price target from $11 to $12 but reiterated a Hold rating. Rosner said that he was encouraged by the company’s 4Q results and its growing investment in electric vehicles.
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 5 analysts recommending a Buy, 5 analysts suggesting a Hold, and 1 analyst suggesting a Sell. The average analyst price target of $12.10 implies about 5% upside potential to current levels.
With Europe planning to cut transportation-related emissions by 90% by 2050, Ford (NYSE: F) announced today that it is joining a growing list of companies planning to sell only electric vehicles (EVs) before then.The carmaker said within the next five years, all of its European c
(RTTNews) - Ford will invest $1 billion to modernize its vehicle assembly facility in Cologne, Germany, as part of its pledge to sell only electric cars in Europe by 2030.The company announced earlier this month that it would invest at least $22 billion globally in electrificatio
Ford Motor Co on Wednesday said its car lineup in Europe will be all-electric by 2030 as the U.S. automaker races to get ahead of CO2 emissions targets and looming bans in some countries on fossil fuel vehicles.
Do You Have These Top Automotive Stocks On Your Watchlist? 4 In FocusAny seasoned auto investor can tell you that the industry has taken them on a ride over the past year. When the stock market crashed in March, automotive stocks were hit hard. However, as the dust began to settl
FedEx and General Motors were among several companies whose operations were stalled by bone-chilling weather that has caused power outages and gas shortages in parts of the United States.
A natural gas shortage caused by a severe winter storm has forced Ford (NYSE: F) to shutter its Kansas City, Missouri, factory, where the F-150 pickup and Transit van are produced, the company said on Monday. At the same time, General Motors (NYSE: GM) said four of its plants --
Ford Motor Co said on Monday it has joined the Initiative for Responsible Mining Assurance (IRMA), which aims to promote use of third-party assessments of mining practices to protect human rights.
The next round of stimulus checks will likely bring a new surge of retail investor participation, and investors who back the right companies could wind up turning a $1,400 check into a much larger amount. Of course, doing so will involve taking on some risk, and it's fair to say
Investing in the stock market is a great way to build wealth, and it doesn't require you to have a massive amount of savings to get started. In fact, you can grab some stocks for the same price as a dozen roses, which can run you anywhere from $10 to $100. So, if you're looking t
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