Ford EV promise boosts stock to highest in nearly five years

Shares of Ford Motor Co. on Wednesday closed at their highest since July 2016 after the car maker vowed to make sales of electric vehicles 40% of its global sales by 2030 and invest an additional $8 billion through 2025 in developing them, bringing its total to about $20 billion. Ford shares jumped nearly 9%, its biggest one-day percent increase since June 5, 2020, when they rose 11.72%. Wednesday’s rally also snapped a two-day losing streak.

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