Ford stock surges 13% on investor optimism for new energy storage business

Investor support for Ford Motor’s energy storage business sent its stock ‌soaring 13% Wednesday, the biggest single-day increase in ‌about six years, following a note from Morgan Stanley highlighting details released ​by the company on Monday. Ford announced its wholly-owned energy subsidiary late last year, and it is being directed by Lisa Drake, who has been a key leader in ‌the company’s efforts around ⁠electric vehicles. • After a $19.5 billion writedown on its EV programs in December, ⁠Ford announced it would launch an energy storage business, utilizing plant space in Kentucky that was previously meant to produce ​batteries for ​electric vehicles.Read More