Shares of
Ford Motor Company (NYSE:F) were trading sharply higher on Wednesday, after the company shared details of its electric vehicle and profit growth plans at a morning-long event for investors and analysts.
As of 1:30 p.m. EDT, Ford's shares were up about 7.4% from Tuesday's closing price.
So what
In a live-streamed event on Wednesday morning, CEO Jim Farley and other Ford executives outlined the company's plan to transition to electric vehicles with advanced connectivity that deliver ongoing revenue streams via a series of subscription software applications.
Ford's F-150 Lightning Pro, an electric pickup with special features intended for commercial- and government-fleet customers, is just one part of a new effort to boost revenue from Ford's market-leading commercial vehicles business. Image source: Ford Motor Company.