Ford’s chief executive is about to introduce an electric F-150 pickup truck that could determine whether the automaker can survive and thrive in an industry dominated by Tesla.
The company struggled to produce vehicles in the first three months of the year, a sign that shortages could last longer than executives had hoped.
The automaker, which was created by the merger of Fiat Chrysler and Peugeot, has lagged in the fast-growing market for electric cars.
The electric car start-up cited shortages of semiconductors and other supply chain problems.
The electric vehicle maker’s stock surged after a public offering last fall but has since plunged, in part because the company failed to meet its 2021 goals.
The electric vehicle maker’s stock surged after a public offering last fall but has since plunged, in part because the company failed to meet its 2021 goals.
Ford ended the year with more revenue than General Motors for the second year in a row.
The company will make electric pickups at an existing plant and batteries at a factory built with a partner, a person with knowledge of the plan said.
The automaker also reported a big jump in revenue, to $13.8 billion from $8.8 billion a year ago, as sales of the Model Y continue to rise.
