On Monday, the National Highway Traffic Safety Administration announced it has broadened its investigation into approximately 1.27 million Ford F-150 trucks from model years 2021 through 2024. The probe follows consumer reports of unexpected downshifts that lead to rear-wheel lockup, raising concerns about loss of vehicle control. Ford has been asked to provide detailed warranty and repair data, customer complaints, and technical service bulletins by March 15. This marks the second major federal inquiry into Ford’s best-selling pickup in less than two years, potentially exposing the company to increased recall costs and reputational risk in its core light-truck market.

Ford’s current annualized dividend yield stands at nearly 4.5%, one of the highest among S&P 500 automakers. The company has supplemented its base payout with special dividends three times since 2022, distributing a total of $3.2 billion to shareholders. In addition to cash returns, Ford has repurchased $5.8 billion of its common stock over the past 12 months, reflecting management’s commitment to capital allocation despite a planned $19.5 billion writedown on its electric-vehicle business announced in December. These actions have helped support Ford’s dividend coverage ratio, which remains above 1.2 times earnings even after significant EV-related charges.

Over the weekend, the Financial Times reported that Ford held discussions with Chinese electronics maker Xiaomi to form a US-based electric-vehicle joint venture. Ford spokespersons publicly described the report as "completely false," and Xiaomi echoed that position, stating it does not sell products in the United States nor is it negotiating market entry. The denials follow a letter sent by Michigan Representative John Moolenaar questioning Ford CEO Jim Farley about potential partnerships with Chinese automakers, including speculation around BYD and concerns over a planned $3 billion battery data center using CATL technology. Lawmakers warn that any tie-ups with government-backed foreign battery suppliers could threaten national security and undermine domestic production incentives.