F: Massive EV Pivot Could Please Investors Despite Mammoth Price Tag
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Ford Motor Co. is pivoting from selling electric vehicles (EVs) to focusing on battery and hybrid car sales, costing nearly $20 billion in Q4. Despite the high cost, the stock rose as investors welcomed the shift after years of EV losses. Ford aims for profitability by cutting certain EVs and increasing hybrid sales. The company is also repurposing its Kentucky EV battery factory for energy storage. CEO Jim Farley emphasized the move towards more profitable vehicles.
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