On the surface, recent word from legacy automaker Ford (F) should have been a masterstroke win. An electric Ford Bronco? It was already exciting enough to see this iconic car come back, despite the drubbing its reputation took when it became briefly famous for carrying O.J. Simpson. But now, it is part of Ford’s electric vehicle lineup. But do not pull out your checkbook too soon; Ford will not be bringing that vehicle to the United States. Or Europe, for that matter. Ford shareholders were not happy, and sent shares sliding fractionally in Thursday afternoon’s trading.
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No, if you want an electric Bronco, you will be getting it in China, as reports note that is the only place it will be available. Known there as the Ford Bronco New Energy, it will be available in one of two versions: “battery-electric” and “extended-range electric vehicle.” The car will be produced as part of a joint partnership with Jiangling Motors.
Reports note there will be key differences between the battery-electric and the extended-range model, as the battery-powered version will offer a 404-mile range and a 105.4 kilowatt-hour battery driving its operation. The extended-range version will pack in a 43.7 kilowatt-hour battery, and also have a 1.5-liter engine to give it more range, up to 758 miles. In fact, the Bronco New Energy will have a Lidar sensor mounted on its roof, which is believed to give it improved Advanced Driver Assistance System (ADAS) performance.
The Ford Transit Van Turns 60
Meanwhile, in a surprise anniversary, reports note that the Ford Transit van just reached a major anniversary, with its 60th year of production. In that vein, Ford’s European team went on the hunt for interesting facts about this venerable product offering, which has been in continuous operation since the 1960s.
Originally, the project that made the Ford Transit van happen was called “Project Redcap,” reports noted, and was originally poised to be released as the “V-Series.” But a last-minute change gave it the name Transit instead, and the rest, as they say, is history. Over 13 million Transit vans have been made since the project went live in 1965, and, apparently, one managed to survive being buried in 16 feet of snow for six months with nothing more than some modest damage to the bodywork. It even started on the first try!
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, 12 Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 22.75% loss in its share price over the past year, the average F price target of $10.08 per share implies 9.64% downside risk.
