BofA Reaffirms Buy Rating on Ford with $14 PT Following $2 Billion EV Investment and Platform Launch

BofA Securities reiterated its Buy rating and set a price target of $14 on Ford Motor Company's shares, citing the company's $2 billion investment in its Louisville, Kentucky plant and the launch of its Universal Vehicle Platform. The firm believes Ford is setting itself up for the future of electrification despite the current downturn in US electric vehicle sales.

Kentucky has solidified its position as the leading state in electric vehicle (EV) manufacturing, attracting over $13.1 billion in investments since 2020. The commonwealth has seen significant advancements in EV production, battery making, and supply chain development, largely driven by Governor Andy Beshear's initiatives [1].

Ford Motor Company's recent $2 billion investment in its Louisville Assembly Plant (LAP) is a cornerstone of these developments. The investment will facilitate the production of a new electric truck and a universal EV platform, creating 2,200 hourly jobs [1]. This announcement comes as Ford and SK On's BlueOval SK Battery Park in Hardin County has started full production, employing around 1,400 workers and promising 5,000 jobs [1].

The state's EV industry is also benefiting from other major projects. Ascend Elements, a battery material manufacturer, received a multimillion-dollar federal investment to produce battery materials and new batteries for EVs, though the company has faced legal disputes and delays in its Hopkinsville plant [1]. Additionally, Rivian, an EV manufacturer, invested $10 million in Bullitt County to expand its parts operations and remanufacturing facility [1].

Despite the current downturn in US EV sales, BofA Securities has reiterated its Buy rating for Ford Motor Company, setting a price target of $14. The firm believes Ford's $2 billion investment in the Louisville plant and the launch of its Universal Vehicle Platform position the company well for the future of electrification [2].

References:
[1] https://www.usatoday.com/story/cars/technology/electric-vehicles/2025/08/25/kentucky-becomes-ev-capital-of-america/85824161007/
[2] https://www.marketbeat.com/instant-alerts/filing-price-t-rowe-associates-inc-md-increases-stock-position-in-ford-motor-company-f-2025-08-27/