When Ford (NYSE:F) announced its electric vehicle F-150, the stock broke out into the $15 - $16.45 range. And as it pours billions of dollars in developing its fleet of EVs, clean energy investors will accumulate Ford shares.
Ford’s fleet of EVs is not the only reason to expect upside ahead. Its subsidiary, Spin, launched its first custom-designed electric scooter. As EVs become mainstream, the inconvenience in charging them may come to light. Conversely, scooters use fare less energy and are more environmentally friendly than EV. For example, environmentalists do not talk about the pollution associated with mining to make lithium batteries.
Spin’s S-100T fleet of scooters could become a "must-have" product. If it catches on, Ford may have an unexpected success here. Plus, "T" stands for ‘tough.’ The combination of a high-quality product, long lifespan, and high safety will drive consumer sales higher.
Hybrid Truck
To hedge its bets against EV, Ford also announced a new compact pickup hybrid truck. The vehicle has a 40 mpg efficiency in the city. The vehicle is also very cheap, starting at just $19,995. When used cars and new vehicle prices are up at least 25% due to parts shortages, the Maverick is a refreshing product launch. It should lift Ford’s branding value and help EV and traditional vehicle sales.
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