Ford boosts EV spending to$30 Billion by 2025 - source: Bloomberg 27/5/2021
It looks like Ford's eyewatering forward orders for their new F150 electric ute have got the execs excited enough to throw more cash at this sweet sector. That will instigate more competition from the other legacy manufacturers; the race shifting in to 2nd gear.
In the same vein, Rivian is on the cusp of releasing their much heralded ute, so it will be interesting to compare forward orders.
Third gear in the old ICE car dynamic for Yank EV's will be quick to follow; with 4th and 5th gear right behind once Biden starts throwing $billions at the EV sector. That in turn will spur China, Europe and the UK to quicken their pace. Its all about competitive advantage now and no one wants to eat someone else's dust - which all translates to more demand for lithium.
Good News & Bad News, page-1073
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