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Ford Is Adding Jobs and Spending More Money in the Battle to Win the EV Wars

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Ford Motor

has teased investors for a second consecutive day.

A day after the Ford Mustang social media account teased an announcement, Ford (ticker: F) issued another news release early Thursday.

“Ford will make a major economic announcement this morning at 9:00 a.m. [eastern time] on how it’s continuing to transform its global automotive business,” read part of the release.

A conference call will follow the announcement at 10:30 a.m. It will also be available to watch on YouTube.

Investors will wait with baited breath. The Mustang announcement Wednesday was about a new black trim package for Mustang vehicles. It wasn’t a big deal for the stock.

Ford shares rose 1.3% in premarket trading Thursday.

S&P 500

Dow Jones Industrial Average
futures gained 0.6% and 0.5%, respectively.

Coming into Thursday trading, Ford stock has fallen about 35% this year, worse than the 14% comparable drop of the S&P 500. Inflation and rising interest rates have hit automotive stocks hard. Investors are worried high inflation will squeeze profit margins while rising rates will cool demand for new cars.

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