- The stock price of Ford Motor Company (NYSE: F) increased by 4.02% on Friday, November 13 from a price of $8.21 to $8.54 per share. This is likely why it happened.
The stock price of Ford Motor Company (NYSE: F) increased by 4.02% on Friday, November 13 from a price of $8.21 to $8.54 per share. There were likely a few triggers that caused the price increase, including a broader stock market rally.
One of the biggest triggers was that Ford Motor Company announced it is considering making its own battery cells for its electric vehicles.
“We are discussing (battery) cell manufacturing,” said Ford Chief Executive Officer Jim Farley at the Reuters Automotive Summit teleconference via Reiters. “I think that’s natural as (EV) volume grows.”
This is a reversal from what former Ford CEO Jim Hackett said in July. Back then, Hackett said that there was no advantage to Ford building its own battery cells.
On Thursday night, Farley was interviewed by Jim Cramer on Mad Money. During the interview, Farley acknowledged that the company’s goal is to modernize operations and stay profitable in every area of the globe. This will be done by investing in their commercial businesses.