Ford Announces New Lincoln Star EV, Three More in the Lineup
Ford Motor announced it plans to launch four new electric vehicles (EVs) into its Lincoln lineup by 2026, as it “moves toward an electric future,” the company said in a press release.
More than half of Lincoln’s — the luxury automotive brand of Ford Motor Company — global volume is expected to be all-electric vehicles by mid-decade; the brand will deliver three new fully electric vehicles by 2025, adding a fourth by 2026, the company said. It also unveiled the new Lincoln Star Concept “revealing the brand’s vision for connected, electrified vehicles,” according to the release.
“As Lincoln enters the next chapter in our transition to a zero-emissions future, the Lincoln Star Concept will lead the way for our portfolio of fully electric vehicles,” Joy Falotico, president of Lincoln, said in the release. “It is an excellent example of how we are redefining luxury for the next generation as we work to transform the vehicle into a third space – a true place of sanctuary – for our clients.”
The company said that while Lincoln moves toward an electric future, it is equally focused on keeping its current portfolio fresh and introducing new clients to the brand. Lincoln reported its best annual global sales in 21 years, up 7% over 2021, the company said.
In March, Ford announced it was spinning off its EV unit, in an effort to “compete and win against both new EV competitors and established automakers,” the company said in an announcement at the time, as GOBankingRate previously reported.
“We’re making great progress executing our Ford+ plan to grow and create value. Today we’re taking the next step. We’re creating two distinct, but strategically interdependent business units we’re calling Ford Blue & Ford Model e,” CEO Jim Farley tweeted on Wednesday, March 2.
CFRA Research has a “strong buy” opinion on Ford, according to an April 16 note, reflecting a view that Ford has turned the corner operationally and has tailwinds from a new CEO to a strong lineup of new vehicles.
“Ford remains in the middle of a multiyear global restructuring, which should lower its operating costs and improve productivity,” CFRA equity analyst Garrett Nelson wrote in the note sent to GOBankingRates.
Nelson said that CFRA also considers Ford’s EV strategy the most prudent of the major U.S. automakers and it became the second best-selling U.S. EV manufacturer in 2021. CFRA has a 12-month price target of $25.
More From GOBankingRates
- 5 Frugal Money Habits Americans Can Learn From Other Countries
- The Average Retirement Age in 2023 in the US vs Canada
- 3 Things You Must Do When Your Savings Reach $50,000
- 9 Key Signs You've Mastered the Savings Game
