--- title: Ford’s EV progress pushes the carmaker past $100B - The Hustle description: Ford’s progress in EV manufacturing has boosted its stock price by 160%+ in the past year. image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1020524196-News-Brief_2022-01-14T023224.746Z.webp --- # Ford’s EV progress pushes the carmaker past $100B ![Trung T. Phan](https://thehustle.co/wp-content/uploads/2020/04/Image-from-iOS-300x300.jpg?width=48&height=48&name=Image-from-iOS-300x300.jpg) [Trung T. Phan](https://hs-sbup.thehustle.co/author/trung-t-phan) [Trung T. Phan Twitter profile ](https://twitter.com/TrungTPhan) Published: January 14, 2022 Updated: October 11, 2023 One of corporate America’s favorite quotes is from Henry Ford, who founded Ford Motor Company in 1903. ![Ford’s EV progress pushes the carmaker past $100B](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/Images/1020524196-News-Brief_2022-01-14T023224.746Z.webp?width=595&height=400&name=1020524196-News-Brief_2022-01-14T023224.746Z.webp) Speaking about his product development process, Ford said, “If I had asked people what they wanted, they would have said faster horses.” Yesterday, Ford passed the **$100B** mark for the 1st time, per [*CNBC*](https://www.cnbc.com/2022/01/13/fords-market-cap-tops-100-billion-for-first-time-ever.html). Somewhat ironically, it did so by listening to what the market wants: electric vehicles (EVs). #### **Ford’s stock price is up 146% over the past year** And it has outpaced its main US competitors: - **Tesla** gained 22% (market cap = $1T+) - **General Motors (GM)** is up 20% (~$90B) The global chip shortage has hampered all automakers, but Ford managed well in Q4 2021: It sold [508k](https://www.cnbc.com/2022/01/05/fords-2021-sales-down-6point8percent-but-finishes-year-with-strong-fourth-quarter.html) vehicles, a 27% quarter-on-quarter (QoQ) increase vs. a 3% decline for the entire industry. More importantly for its long-term prospects… #### **… Ford is now America’s No. 2 EV maker** It shipped 27k+ Mustang Mach-E vehicles in 2021, passing the 24k+  Chevy Bolts and Hummer EVs that GM sold. While both companies lag far behind Tesla — which sold ~1m EVs — Ford has one giant rabbit to pull out of its carmaking hat. Since [1981](https://www.motorbiscuit.com/toyota-rav4-stole-ford-f-150s-spot-best-selling-vehicle/), the bestselling car in America is the Ford F-150 pickup truck. *Every single year*. #### **Demand for Ford’s electric F-150 Lightning is huge** Due to significant consumer interest, Ford announced it will make [150k](https://www.cnbc.com/2022/01/04/ford-plans-to-nearly-double-production-of-its-new-all-electric-f-150-lightning-pickup.html) of the trucks a year by 2023 at a Michigan plant (~4x its initial output estimate). The company’s turnaround has happened under CEO Jim Farley, who took over the top spot in October 2020. If Ford keeps trending up, we’d love to hear this quote from Farley: “If I had asked people what they wanted, they would have said electric F-150s… and we delivered.” Topics: [Climate](https://hs-sbup.thehustle.co/tag/climate) [Transportation](https://hs-sbup.thehustle.co/tag/transportation) ## Follow us on social media prev next - ![Kinda gross, but kinda cool? 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Look up and you’ll soon find out Pop up for Subscribe to The Hustle Daily Newsletter Subscribe to The Hustle Daily Newsletter Get the 5-minute news brief keeping 2.5M+ innovators in the loop. Always free. 100% fresh. No bullsh*t. JOIN FREE ### 100% Free CRM Nurture and grow your business with customer relationship management software. Signup for a free account Close modal ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Trung T. 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