While legacy automaker Ford (F) has pared back its plans to go electric, it hasn’t gotten rid of them altogether. In fact, its latest plan might be one of the most ambitious infrastructure plays seen in quite some time. However, shareholders weren’t happy, and Ford shares slid just over 2% in the closing minutes of Monday’s trading session.
The plan calls for Ford to get together with TXU Energy and give customers access to “significant cost savings” when charging their electric vehicles at home. Many drivers simply aren’t interested in planning their drives—and lives—based on the proximity of electric vehicle charging stations. But that will hopefully be a lot less of a problem under the Ford and TXU plan.
Dubbed the TXU Free EV Miles program, Ford EV customers will get credits on their TXU Energy bill for all charging done between 7 PM and 1 PM. That’s 18 full hours in a day to charge a vehicle, a move that should relieve a lot of strain on electric vehicle charging systems and offer at least a little more reason to buy in on future electric vehicles, particularly those sold by Ford.
Meanwhile, in Gas Engines
Of course, Ford isn’t leaving gas-engine vehicles behind either. That might have been a concern a while ago, but it’s become abundantly clear that Ford will stay in the gas market for some time to come. In fact, it recently teased an upcoming development for the Ford Bronco called the “Sasquatch package.”
The Sasquatch package is said to be an off-roading package available for the 2025 model year of Bronco Sport vehicles. It’s already available for the main Bronco line, so we have a good idea of what’s actually in it. It likely includes 17-inch black aluminum wheels, high-clearance suspension, and locking front and rear axles. It may not have every off-road feature a user could want, but it’s certainly a good package.
Is Ford Stock a Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on Ford stock based on six Buys, six Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 13.14% loss in its share price over the past year, the average Ford price target of $14 per share implies 41.84% upside potential.
