Amid a shortage of new cars, many buyers have been forced to kick the tires of overlooked models and brands.
The company, which is backed by Amazon and Ford, is seeking to sell shares in one of the biggest initial public offerings of the year.
The automaker and a supplier will spend $11.4 billion on three battery factories and a truck plant, creating 11,000 jobs.
Vehicle makers shy away from traditional materials that are hard to recycle, like leather and plastics, and look to repurpose alternatives that still convey quality.
Small trucks from Ford and Hyundai are joining a growing field of electric models as America’s go-to vehicle adapts to an evolving market.
A push to increase sales of electric vehicles favors companies that already have all-electric cars on the market and could penalize those that don’t.
The initiative would also promote the construction of charging stations and include financial incentives for consumers and carmakers.
Ford has had to halt or slow production of highly profitable models like the F-150 pickup truck and various sport-utility vehicles.
Tesla said sales doubled in the second quarter, but Ford reported a more modest increase as the industry grapples with a semiconductor shortage.
The president wants to use pollution rules to rapidly lift sales, but there are hurdles ahead.