1 Electric Vehicle Stock to Consider Buying Now That Ford Just Pulled Back From EVs

Ford Motor Company (NYSE: F) recently announced a whopping $19.5 billion charge on its electric vehicle (EV) related assets, including $5.5 billion in "cash effects with the majority paid in 2026 and the remainder in 2027." In addition, the company reduced its focus on EV programs to concentrate on its investment in a Universal EV Platform, aiming to produce "smaller, affordable models." It's a symbolic shift, and that highlights some key dynamics in the industry. When lockdowns were imposed on the economy, automakers rushed to advance EV investment plans, leading to a slew of EV models hitting the market over the last couple of years.Unfortunately, nearly all of them, Ford's models among them, were unprofitable. They were de facto loss leaders for automakers trying to capture market share from industry leader Tesla (NASDAQ: TSLA). That strategy makes perfect sense; after all, EVs are the growth area of the auto industry, and as Ford's existing $5 billion commitment to an EV platform demonstrates, the industry still believes this.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool