Ford Motor Co Faces Challenges in Electric Vehicle Market
Ford Motor Co is facing challenges in the electric vehicle market, including a potential loss of jobs at its electric-vehicle battery plant in Michigan if tax credits are reduced.
The company has intensified its campaign to preserve clean energy manufacturing subsidies, citing the risk of job losses at its Michigan plant. This move comes as Ford navigates a competitive market, where Tesla’s success is a notable example.
Recall of Electric Mustangs
Ford is recalling nearly 200,000 electric Mustangs due to faulty door latches that could trap passengers. The recall is a separate issue from the company’s efforts to preserve tax credits and subsidies.
Market Performance
Ford’s stock price has experienced fluctuations, with a recent close price of 10.75 USD, down from its 52-week high. The company’s market capitalization remains significant, at 41.48 billion USD.
Financial Metrics
- Market capitalization: 41.48 billion USD
- Price-to-earnings ratio: 8.36
- Recent close price: 10.75 USD
Note: The price-to-earnings ratio is relatively low, indicating potential undervaluation.