Billionaire investor George Soros's investment fund sold stakes in electric-vehicle makers Tesla and Rivian in the quarter ended Sept. 30 — instead preferring to open a fresh position in legacy automaker Ford, according to a securities filing released late Friday.
Reports have surfaced that Ford may end production of its electric F-150 Lightning, the most popular EV pickup truck in the U.S. The rumors come just two months after Ford announced an upcoming EV platform for new models. Ford is betting on EVs at a time of slowing demand and the absence of federal tax credit incentives for buyers.
Despite losing billions of dollars on EVs each year, Ford vows to move forward — armed with new knowledge of consumer preferences and the competitive scene.
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