Ford reported falling electric vehicle revenue on Wednesday, but executives seemed optimistic in the earnings call. CEO Jim Farley affirmed that what the market wants is affordable EVs, and Ford is well-positioned to offer them in the next generation of products. They'll be profitable, he promised, and in the meantime Ford is adding capacity for its well-established hybrids, like the F-150 PowerBoost and Maverick Hybrid.
It was an optimistic call for a brand that has struggled to woo investors. The company is one of the cheapest in the world when it comes to its share price versus its earnings, a sign that investors have little confidence in the core business. But Ford's deeply rooted fleet business is massive, its hybrid portfolio is solid and in-demand and its Mach-E EV is the second-best-selling EV SUV in America, behind the Tesla Model Y.
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