Hyperdrive
Ford CEO Out to Prove Wall Street Wrong on ‘Crazy High’ EV Goal
- Company trying to win over analysts at headquarters May 21-22
- Farley has said Ford can take Tesla’s top spot in US market
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Ford Motor Co. surprised Wall Street earlier this month with a strong first quarter, but Chief Executive Officer Jim Farley still faced a tough crowd by sticking with a goal for the company’s money-losing electric vehicle unit to be churning out 2 million models annually in a few years.
“I appreciate that Jim,” Adam Jonas, an analyst for Morgan Stanley, said during Ford’s earnings call on May 2. But that goal is worrying because it’s a “crazy high number.”