8/2, 5:26 PM (Source: TeleTrader)
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Ford to spend more on EV than gas-powered models

Ford Motors chief operating officer Lisa Drake said during a leadership discussion on Monday that starting 2023 the company will be investing more funds into the development of electric vehicles than the models powered by gas.

As the meeting was devoted to the earnings results of the second fiscal quarter of 2021, John Lawler, the chief financial officer at Ford, shared his estimates that vehicle pricing will continue to be strong in the third quarter, but with some moderation in the fourth quarter and early 2022 due to the return of demand for semiconductors.

Lawler added that the automaker plans to bring back dividends as soon as possible, possibly later this year.

Breaking the News / LH