Ford founder’s great-grandson spends more than $20 million in new stock purchases

Ford founder’s great-grandson spends more than $20 million in new stock purchases

Reuters

Ford expects to triple electric Mustang output by 2023

In a hot electrical vehicle market, Ford is pitting itself against the likes of century-old rival General Motors Co and European carmaker Stellantis, while chasing Volkswagen and global EV leader Tesla Inc. Last week, a top Ford executive said that the company was aiming for annual EV production capacity of nearly 600,000 within the next two years, which would also include its Lightning pickup and E-Transit van. Lisa Drake, the chief operating officer of Ford North America, said that the company’s optimism stemmed from increasing demand for its F-150 Lightning pickup, with retail reservations approaching 200,000. Automotive News reported https://bit.ly/3rWEiBM earlier on Friday that Ford was postponing the production of electric versions of the Explorer and Lincoln Aviator crossovers by about one and a half years to increase manufacturing of its Mustang Mach-E SUVs.

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