A manual transmission is not inherently new, but legacy automaker Ford (F) has a whole new plan for it to show up somewhere largely unexpected: in electric vehicles. A new patent suggests that, one day, you may well be able to shift your electric vehicle in the same way you shift your gas-powered one. The news did not help share price much, as investors sent Ford shares down over 2% in Friday afternoon’s trading.
The newly-revealed patent suggests that Ford wants to develop a way to put gearshifts into electric vehicles. The patent, titled “Shifter Assembly For Electric Vehicles,” makes it about as clear as it can be: Ford wants manual transmissions in electric vehicles. The patent explains the basics of a “modern-day manual,” and offers possible theories on how the six-speed can be included in an electric vehicle.
This does not mean that next year’s Ford line of F-150 Lightnings or Mach-E Mustangs will have a manual transmission; indeed, the last update we got about the F-150 Lightning made no mention of manual transmissions at all. But still, that does not mean future models will be bereft of manual transmission control any longer.
Virtual Shareholder Meeting Planned
Meanwhile, Ford is currently preparing for its virtual shareholder meeting, and even has a plan in place for what it will cover. It has three major topics in mind, reports note, starting with Ford Blue, which is the gas-powered and partially-gas-powered, or hybrid, line. These are Ford’s bread-and-butter products right now, so look for a lot of attention herein.
Ford will then segue into the Model e line, which focuses on the nascent electric car lineup. That will also have word about embedded software, which is increasingly a focus at Ford. Finally, the Ford Pro line will get a section, which is Ford’s commercial and fleet vehicle segment. Ford Pro has pulled off some noteworthy wins in the past, so seeing what Ford has in mind here could be worth sticking around for.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on four Buys, 10 Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 21.5% loss in its share price over the past year, the average F price target of $10.46 per share implies 8% upside potential.
