Ford (NASDAQ:F)

Vehicle producer Ford (NASDAQ:F) is aiming to manufacture half a million EV trucks every year at its Tennessee unit.

The company is looking to jump ahead in the EV space and noted its EV unit incurred a pre-tax loss of $3 billion in the last two years. Further, it also expects this trend to continue this year as investment in the space continues.

Further, the company has separated the EV vertical into a separate unit and expects it to become profitable pre-tax by the end of 2026. Finally, Ford is endeavoring to reach 2 million EV units annually by 2026.

Overall, the Street has a $13.69 consensus price target on F implying a 19.88% potential upside in the stock. That’s after a nearly 28% slump in the share price over the past year.