Ford challenges Tesla and GM: news on the way

Ford challenges Tesla and GM: news on the way
After the recent election of the new President of the United States Joe Biden, the automotive world has begun to update itself to the new legislative plans devised by the American government which, as we all know, is clearly oriented towards the transition to electric; recently it was announced that the entire government fleet will be converted to electric and there is talk of more than 640,000 vehicles in total.

In addition, the initiative provides that only American manufacturers are used and among the names that immediately come to mind are Tesla, General Motors and Ford; the latter closed 2020 positively and is ready to invest 29 billion dollars in the development of electric vehicles and autonomous driving by 2025. According to what was declared by Ford's CEO in the press release presenting the financial results of Q4 2020 , the electric mobility revolution would have officially begun.

It was not only Biden who convinced Ford to switch to electric, in fact many start-ups aimed at the production of electric vehicles were born in Tesla's footsteps and some have aimed the pick-up sector which is very expensive to Ford and absolutely does not want to be excluded; we are talking about Rivian, Lordstown Motors, Bollinger and Tesla itself with the controversial Cybertruck.

Ford is therefore in the midst of modernization and will pursue Tesla and GM, introducing quality vehicles at attractive prices, as is the tradition of Ford; General Motors began this journey 3 years early, benefiting from an equity perspective and culminating in the recent introduction of the GMC Hummer EV.

The brand founded by Henry Ford has already put on the market a thick electric car, the Mustang Mach-E, but the goal is to produce a fully electric F-150 to satisfy the large American clientele; moreover, in Europe, the plug-in hybrid range of the American brand is constantly expanding with the recent introduction of the new Explorer.

Financial data also bodes well, after signing an agreement with Google, shares have skyrocketed 8.6%, to be added to the growth achieved after the appointment of the new CEO in October 2020; to fuel the optimism there are also the data relating to the European Q4 where the EBIT is 414 million dollars, the best result of the last four years and a market share higher than 0.1% compared to the relevant period in 2019, bringing the result to 7.2%.

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