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Ford Market Cap Tops $100 Billion for First Time on EV Surge

Electric Ford F-150 Lightning
Electric Ford F-150 LightningPhotographer: Emily Elconin/Bloomberg
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Ford Motor Co.’s market value topped $100 billion for the first time as investors bet on the 118-year-old automaker’s prospects in the dawning electric age.

Ford shares rose as much as 5% to $25.69, extending a 20-year high, on Thursday in New York. The automaker’s new market cap exceeds rival General Motors Co. and electric truck startup Rivian Automotive Inc. It’s still a far cry from Tesla Inc., which investors have valued at more than $1 trillion.