Ford Stock Rises on EDF Deal as US EV Sales Plunge 27%
F•Ford and General Motors will repurpose existing assets and facilities to launch energy businesses, with Ford’s stock rising sharply in May following a multiyear deal with EDF Power Solutions. US electric vehicle sales plunged 27% year over year as Tesla claims the top two spots on the American-Made Index.
1. Energy Business Pivot and EDF Deal
Ford and General Motors have announced plans to repurpose existing manufacturing assets and facilities to enter the energy market. Ford secured a multiyear agreement with EDF Power Solutions to supply charging infrastructure and energy management services, prompting a notable rally in Ford’s stock during May.
2. EV Market Headwinds and American-Made Rankings
US electric vehicle sales fell 27% year over year to about 216,400 units, reducing EV share to 5.8% of new-vehicle sales. Tesla’s Model 3 and Model Y held the top two positions on the American-Made Index, highlighting intensified competition and headwinds for Ford’s EV lineup.
