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Ford Follows GM: Q2 2021 Earnings to Exceed Its Expectations
This ”follow the leader” move is the result of unfortunate timing and lingering suspicions that the future of the automotive business with automated vehicles, fuel cells and other connected car technologies will consume enormous amounts of capital that will hurt shareholders, which in the case of Ford contains numerous family members. Yesterday GM said it will increase its EV and AV investments from 2020 through 2025 to $35 billion. This is a – gulp – 75% increase from its initial pledge announced prior to the ongoing pandemic.
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