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Ford shares rise above 17% on Wall Street after reporting positive balances

Despite the good news, the company said in a statement that the shortage of chips is still a problem, but that the situation improved between July and September compared to the second quarter. He also stated that the third quarter results were driven by the high demand for vehicles, including electric vehicles, especially in the US, as well as the improvement in results in the rest of the world regions.

From January to the end of September, Ford had revenues of US $ 98,663 million, 8.2% more compared to the same period in 2020, of which US $ 35,683 million corresponded to the third quarter, a figure of 4.8% lower than that registered between July and September of the previous year. Of these revenues, US $ 90,893 million correspond to automotive activities, US $ 7,700 million to Ford Credit, the company’s financial arm, and US $ 70 million to the Mobility business, the unit that encompasses the development of autonomous vehicles.

Adjusted earnings before interest and taxes were US $ 300 million in the third quarter of 2021 and US $ 8900 million in the first nine months of the year, 709% more than in 2020. By region and in the third quarter, Ford had profits of US $ 2,423 million in the US and 2 million in South America.

In Europe, Ford lost $ 52 million and another $ 39 million in China. In the rest of the world, the company made $ 125 million in the third quarter.

The bet on electric vehicles

Ford announced that it will increase its investments to produce cars without polluting gas emissions and estimates that by 2030 40% of its vehicles sold will be electrical

The US manufacturer indicated that it will increase its investments in the electricity branch to 30,000 million dollars until 2025, thus raising the 22,000 million that it had announced in February. “This is our greatest opportunity for growth and value creation since Henry Ford began production at scale of the Model T,” said Ford CEO Jim Farley.

Ford had recently announced an electric version of its popular F-150 pickup, America’s best-selling vehicle. Some 70,000 people have already presented a purchase option since it began to be offered a week ago. The company had already launched the Mustang Mach-E, an electric SUV, and expects to market an electric version of its Transit van in the coming months.

Ford also decided to start manufacturing its own electric batteries, an essential component of these vehicles. It recently announced its intention to partner with the South Korean group SK Innovation to produce these battery cells and modules in the United States.

In a world faced with the challenges of climate change, many manufacturers are now turning to electrification to reduce polluting emissions

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