September 25, 2022

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Ford Stock Rises Big on Report It's Considering Introducing its EV Division

Ford Stock Rises Big on Report It’s Considering Introducing its EV Division

Ford F shares jumped higher on Friday after a report that the automaker is considering decoupling its electric car business from its legacy operations.

Bloomberg News reports that CEO Jim Farley is considering ways to separate the division, which is targeting billions of dollars in investments over the coming years, from the combustion engine business.

In fact, Ford briefly surpassed rival General Motors (GM) – Get the General Motors report By market capitalization earlier this year it booked $8.2 billion of its investment in Rivian (countryside) – Get a report from Rivian Automotive, Inc. It collected 200,000 reservations for the newly unveiled F-150 Lighting electric pickup truck.