From CNBC:

Ford Motor Co. CEO Jim Farley announces partnership with Chinese company to build all-electric vehicle battery plant in Michigan. Farley urges investors to focus on the Pro fleet business, predicting its pretax earnings to increase to $8-9 billion this year, higher than traditional business and projected EV losses. Ford Pro expected to generate 20% of revenue from nontraditional subscription services by 2026. Farley compares Pro to Deere & Co.’s success and underscores its undervaluation within Ford. However, skepticism from some investors remains due to Ford’s delayed or reduced spending on EVs and significant losses on electric vehicles.



Read more: Forget Tesla, ‘Pro’ unit is auto industry’s future