The Ford Motor Co. CEO walks to speak at a news conference.
The market value of Ford Motor was over $100 billion for the first time on Thursday morning.
Ford's shares hit another 20-plus-year high, jumping as much as 4.6% to $25.59. Its market value was $102 billion as of 11:10 a.m. Thursday.
The gains have been fueled by Fords plans to increase production of electric vehicles, including the Mustang Mach-E crossover and an upcoming electric version of its best-selling F-150 pickup that is due out this spring. Jim Farley took over as CEO of Ford+ in October of 2020 and has led the plan to turn it around.
Ford is now worth more than General GM, at $90 billion, as well as electric vehicle start-up Rivian, at $75 billion, that has failed to sustain gains following a blockbuster IPO in November. Ford has a market cap of less than $1 trillion.
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