DEARBORN, Mich. - Ford Pro, the commercial division of Ford Motor Company (NYSE: NYSE:F), has rolled out the Ford Pro Smart Charging Bundle in California, targeting businesses that operate electric vehicle fleets. The initiative includes a complimentary Ford Pro Level 2 EV charger for companies that subscribe to Ford Pro Charging software, which provides advanced energy management features.
The software is designed to automate demand response during grid events, manage reporting, and handle the Low Carbon Fuel Standard (LCFS) carbon credits for customers. The aim is to simplify the charging operations for electric vehicle fleets, improve operations, and reduce both upfront and ongoing charging costs. Businesses can also schedule charging during off-peak hours to save on utility costs.
Ford Pro's Charging Software now includes an automated demand-to-grid response solution that reacts to high demand on the grid by pausing charging, alerting the customer, and resuming charging after the event concludes. This feature is intended to alleviate pressure on the grid and mitigate the risk of brownouts and blackouts.
Ted Cannis, CEO of Ford Pro, emphasized the company's commitment to assisting businesses with the transition to electric vehicles, citing California's role as an EV pioneer and the state's new regulations that encourage the adoption of electric vehicles.
The Ford Pro suite includes vehicles, charging, software, financing, fleet management, and service solutions for commercial and government customers. The company highlights its position as a leading global commercial vehicle brand, with a range of electric trucks and vans, including the F-150 Lightning and the E-Transit.
This article is based on a press release statement from Ford Motor Company.
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Still, Ford and other Detroit automakers have been advised by Bank of America Securities analyst John Murphy to withdraw from the Chinese market to conserve resources during the transition to electric vehicles.
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InvestingPro Insights
In the context of Ford's current initiatives to support electric vehicle fleets with advanced charging solutions, the company's financial metrics and market performance provide additional insights for investors. According to InvestingPro data, Ford Motor Company has a market capitalization of $57.81 billion, reflecting its significant presence in the automotive industry.
A noteworthy aspect of the company's financial health is its price-to-earnings (P/E) ratio, which stands at a relatively low 14.76, suggesting that the stock may be undervalued relative to near-term earnings growth. This aligns with an InvestingPro Tip that highlights the stock as trading at a low P/E ratio compared to its earnings growth potential.
Moreover, Ford has demonstrated a robust return over the last week, with a 9.26% increase in price total return, indicating strong recent performance that could capture investor interest. This is complemented by a 5.42% dividend yield, which is particularly attractive to shareholders seeking regular income streams. The company's commitment to dividends is evident, as it has maintained dividend payments for 13 consecutive years, an InvestingPro Tip that underscores its reliability for income-focused investors.
For those interested in exploring more about Ford's stock and to gain access to additional InvestingPro Tips, visit InvestingPro. Currently, there are over 10 more tips available that could provide deeper insights into Ford's financial performance and market positioning. To enhance your InvestingPro experience, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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