Ford Motor Company (NYSE:F) intends to release its Q1 results on April 27. The company’s CEO and President, Jim Farley and its Chief Financial Officer, John Lawler, will hold an earnings call to discuss its results. Investors are encouraged to call in during the conference to ask their questions.
Meanwhile, Ford’s executive chairman, William C. Ford Jr, stated that its Lightning F-150 could make or destroy them. Ford says that the launch could tarnish its reputation if it goes wrong.
Ford Jr considers this investment a big bet as the company tries to compete with combines such as Rivian Automotive Inc (NASDAQ: RIVN), Tesla Inc (NASDAQ: TSLA), and General Motors Company (NYSE: GM), which have made significant investments in electric cars. Ford is also investing millions in the project. The company plans to start production of 200,000 electric vehicles soon. Farley its CEO believes that the project could be a success.
Ford will have to compete with Tesla
Tesla has had a head start in making affordable electric vehicles. However, Ford believes it can make faster and cheaper electric cars. Unlike Tesla, the company hadn’t created its electric vehicle from scratch. Instead, it is modifying its F-150 series into an electric car.
The F-150 lighting will launch before Tesla’s Cyber truck, whose release has been pushed to 2023. Many now wonder which of the two vehicles will come out on top. While Ford is famous for its F-series vehicles, others point out that it has no experience in the electric vehicle space. Tesla, on the other hand, has been known for years for its electric cars. The carmaker also makes excellent vehicles, but it has never had to compete with a company like Ford.
Harrison Ford will receive an award
Harrison Ford, a family actor and aviation enthusiast, will receive the Howard Hughes Memorial Award. The Aero Club, which supports education in aviation, will offer the actor this award.
Ford first vented into aviation in the 1960s. However, he soon abandoned the pursuit as he couldn’t afford to pay for more lessons. It wasn’t until the 1990s that Ford went back into aviation and earned his licence.
Ford has been part of many humanitarian efforts to deliver aid to places like Haiti via aircraft.
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