 |
Louisiana Light • 4 days | 82.73 | -1.03 | -1.23% | ||
|
Bonny Light • 18 hours | 83.51 | -0.60 | -0.71% | ||
|
Opec Basket • 4 days | 84.29 | -0.01 | -0.01% | ||
|
Mars US • 192 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 12 mins | 2.517 | +0.006 | +0.25% |
|
Bonny Light • 18 hours | 83.51 | -0.60 | -0.71% | ||
|
Girassol • 18 hours | 84.58 | -0.49 | -0.58% | ||
|
Opec Basket • 4 days | 84.29 | -0.01 | -0.01% |
|
Peace Sour • 17 hours | 71.46 | -1.00 | -1.38% | ||
|
Light Sour Blend • 17 hours | 74.51 | -1.00 | -1.32% | ||
|
Syncrude Sweet Premium • 17 hours | 81.46 | -1.00 | -1.21% | ||
|
Central Alberta • 17 hours | 71.86 | -1.00 | -1.37% |
|
Eagle Ford • 4 days | 74.74 | -1.00 | -1.32% | ||
|
Oklahoma Sweet • 4 days | 74.75 | -1.00 | -1.32% | ||
|
Kansas Common • 5 days | 69.50 | +0.25 | +0.36% | ||
|
Buena Vista • 5 days | 83.77 | +0.27 | +0.32% |
Breaking News:
Chinese EV Makers Squeeze Out Foreign Competition
Chinese carmakers were planning to…
The Panama Canal is Key to American LNG
The Panama Canal is currently…
Ford Confirms That 4 Out Of 10 Cars It Sells In 2030 Will Be Electric
Ford's hopes to follow in Tesla's and GM's footsteps and piggyback on the EV/ESG bandwagon will be tested this morning, with Ford stock spiking then sliding in jittery trade after Ford confirmed yesterday's Reuters rumor that the company would boost spending on electric vehicles by at least 36% to $30 billion and said that 40% of Ford global vehicle volume to be all-electric by 2030;
Ford also said it is creating a commercial vehicles service and distribution business to be known as FordPro to generate a recurring revenue stream. Moving away form a single transaction business model -- where all revenue comes from the sale of a car -- will help the automaker realize an 8% operating margin by 2023, it said in a statement.
The announcement comes ahead of its Capital Markets Day meeting with investors, in which among other things, Ford explains how it will "lead the electrification revolution":
“This is our biggest opportunity for growth and value creation since Henry Ford started to scale the Model T, and we’re grabbing it with both hands,” Chief Executive Officer Jim Farley said in the statement.
Ford stock was volatile in response, first rising then dropping to session lows, before the algos realized that all of this had been leaked previously.
By Zerohedge.com
ADVERTISEMENT
More Top Reads From Oilprice.com:
- U.S. Shale Is Finally Giving Shareholders A Payday
- The $87 Billion Chinese Car Maker That Hasn’t Sold A Single Car
- Oil Prices Fall As Iran Claims Sanctions Will Be Lifted
ZeroHedge
The leading economics blog online covering financial issues, geopolitics and trading.
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
