Ford Motor Company (NYSE:F) is investing $30 billion in its electric vehicle program through 2025 with plans to target segments where the company already has a competitive advantage, such as pickup trucks, transit vans, and the Mustang sports car platform. Ford’s all-electric Mustang Mach-E crossover has already gone into production and is expected to be available for consumers this summer. Ford will also benefit from a $7,500 federal tax credit for its first 200,000 EV sales. Ford and Walmart announced the testing of autonomous vehicle delivery services in three cities on Sept. 15.
Ford has a market cap of $47 billion and a forward P/E multiple of 12, making the stock a great way to invest in the EV transition without all the hype that may be inflating the share prices of its rivals. More hedge funds are buying this stock recently due to the fact that Ford is a value stock and its stock price will increase in the coming year.
This stock is dirt cheap compared to much-hyped electric vehicle rivals like Tesla and NIO, making the company a good bet for investors who want to get in on the ground floor of this rapidly expanding opportunity. Its compelling EV strategy and rock-bottom valuation make it a top choice for value-conscious investors.