Ford CEO surprised by F-150 Lightning backup power popularity. The CNBC Investing Club sees the feature as a game changer
Ford CEO Jim Farley told Jim Cramer that the F-150 Lightning's abilities as a source of backup power for homes and job sites have been a real "eye-opener" for the automaker. Farley was responding to an inquiry from the Club after Jefferies earlier this week downgraded generator mainstay Generac on the thought that electric vehicles with these types of capabilities could disrupt the backup power industry.
The Lightning has catapulted Ford to the No. 2 EV seller in the U.S., behind the Elon Musk automaker. Ford has been struggling, down roughly 32% year-to-date compared to the S & P 500's more than 14% decline. However, we've stuck with Ford because the stock is cheap on a valuation basis. It also generates tons of cash, supporting an annual 4.25% dividend yield and share buybacks.
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