The stock advanced 32% last month, marking the best monthly percentage gain for Ford’s shares since a 127.4% surge in April 2009. Go to Source
Author: CNBC Online news
Nikola to acquire battery pack supplier Romeo Power in $144 million deal
Nikola will acquire Romeo Power, a key supplier of battery packs for its trucks, in a $144 million all-stock transaction. Go to Source
Shares of Chinese EV makers Nio and Li Auto rise as July car deliveries jump
Shares of Chinese electric vehicle startups Nio and Li Auto jumped in the U.S. Monday. Go to Source
Ford is adding an off-road package to its hot-selling Maverick compact pickup
Buyers of Ford’s smallest pickup will be able to opt for a $3,000 Tremor off-road package starting this fall. Go to Source
Ford CEO offers more clues about automaker’s ambitious electric vehicle plans
Ford has big plans to build millions of EVs. Analysts have been skeptical, but this past week, CEO Jim Farley hinted at how Ford will hit its ambitious goals. Go to Source
Elon Musk and Twitter trial will start Oct. 17
Twitter is suing Musk for pulling out of a deal he made to buy the company for around $44 billion. Go to Source
Don’t expect a sudden turnaround on supply chain problems, top autos CEO says
Luca de Meo told CNBC that the sourcing of raw materials would continue to be an issue for automakers, but added that the company had grown more resilient. Go to Source
Amazon records $3.9 billion loss on Rivian investment, bringing markdown for the year to $11.5 billion
Rivian shares plunged 49% in the second quarter after dropping 52% in the first three months of the year, pulling Amazon’s stake down by $3.9 billion. Go to Source
How an unknown Vietnamese carmaker is trying to beat Tesla in the U.S.
VinFast is an unknown Vietnamese automaker selling electric vehicles (EVs) in America. Top staffers hail from industry leaders such as BMW. Go to Source
Here are 4 things Ford CEO told Cramer that show the automaker’s strength
Ford CEO Jim Farley spoke with Jim Cramer after the automaker’s better-than-expected earnings report Wednesday. Go to Source