Ford shares rose 3.5% to $25.33 on Jan. 13 in New York. The automaker’s new market cap still is a far cry from Tesla Inc., which investors have valued at more than $1 trillion. Ford is doubling the electric F-150 Lightning pickup production. The shares have been on a tear since Jim Farley became CEO 15 months ago. Farley accelerated Ford’s shift to electric and autonomous vehicles and pledged that Ford will manufacture 600,000 EVs a year by 2024. The company is building assembly plants in Tennessee and Kentucky.
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