Ford Boosts Investment into Autonomous Cars and Continued Lockdowns Boost Pinterest
American carmaker Ford has recently seen a jump in their earnings and announced plans to boost spending in electric and autonomous driving to $29 billion through 2025. Of the $29 billion, Ford will spend $22 billion on EVs and $7 billion on autonomy, each cutting edge technology within the car industry.
The global chip or semiconductor shortage may cause a stall in this growth, however, with the new Mustang Mach-E and Bronco models incurring higher costs as well as a cut in F-150. The global chip shortage may leave Ford losing 10%-20% of planned Q1 production.
Pinterest has had a stellar performance recently, and with most of the world still trapped by widespread lockdowns, Pinterest saw a 76% jump in revenue to $706M – bringing its full-year revenue growth to 48% or $1.693B.
The people behind this growth are users, in fact, the number of Global monthly active users rose 37% to 459M. Users may be joining in such mass numbers because Pinterest provides a unique platform no one else does, in which users curate personal pinboards of existing photos uploaded by friends, strangers, and even companies, a major contrast to direct messaging and sharing images directly on other platforms.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.