Ford Motor Company (F) got a new CEO a couple of years ago, James D. Farley, Jr. Unlike his predecessor, he is a real car guy, as opposed to an accountant and bean counter, suggests Glenn Rogers, contributing editor to Internet Wealth Builder.

He’s brought life back into the design crew at Ford and they've begun producing much more exciting and market energizing products. They have also brought to market the first of what will be a continuous flow of electric vehicles over the next few years.

First out of the gate was their Ford Mustang Mach-E SUV, which has been outselling the gasoline-only version. It is a great looking vehicle. They also produce the E-Transit commercial vehicle, which is ideal for last mile deliveries. It is also proving to be very popular.

Finally, Ford is about to launch an electrified version of their most popular vehicle, the F-150 truck. It will be called the F-150 Lightning. The company has 275,000 back orders from customers waiting to get their hands on one these vehicles. “We’re breaking constraints to deliver every one of them as fast as we can,” Mr. Farley said.

All this, combined with improved offerings on the traditional gas-powered vehicles, boosted the stock for most of the past year. The shares sank after weak earnings results were released. But even with that retreat, the stock is up 56% in the past 12 months.

The company has also been hit by the dive in the value of its stake in EV manufacturer Rivian (RIVN). Despite the Q4 setback, Ford is maintaining its focus on becoming the leader in EV production.

Mr. Farley noted that Ford is the second largest seller of electric vehicles in the US in 2021, which he called “an important early step toward eventually being the true EV leader.”

Earlier, he said that the company will double worldwide EV manufacturing capacity to at least 600,000 by 2023. Fully electric vehicles are expected to represent at least 40% of its product mix by 2030.

Tesla (TSLA) enjoys a well-deserved fanbase. But it’s trading at a multiple of 188.43 compared to Ford’s comparatively reasonable multiple of 25.19.

Now, I realize price/earnings hasn't been meaningful when you're talking about Tesla and maybe it never will be. But I like Ford as a solid secondary way to play the electrification of the automotive market. The company is also building out its own electric charging network, which should be a real benefit, as it has been to Tesla.

If you’re a believer in “Buy low, sell high,” this looks like a good time to take a position in Ford. Take advantage of the opportunity. Buy with a target of $30.

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