While legacy automaker Ford Motor Co. (F) may have had its green dreams out on the back-burner, there can be no doubt that it is working to lay foundations for those dreams in the future. And to that end, word recently emerged about Ford’s plans to put up substantial new investment in a plant in Indonesia.
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Ford is reportedly setting up shop in Indonesia, which is home to the world’s largest nickel industry. In fact, the plant Ford is looking to invest in will not be very far from a $4.5 billion nickel processing operation that Ford has a hand in. This in turn means that nickel sufficient to build electric vehicles should always be available to Ford.
Ford is not officially confirming the reports, however, but the Indonesian government is making it clear that it and Ford are talking. The government is talking to other car companies as well, but Faisol Riza, the country’s deputy Industry Minister, made it clear: “Ford has promised to realize its factory and investment in Indonesia by next year.”
Milking Nurburgring
Meanwhile, while we are still waiting for word about Ford’s time trials on the Nurburgring track, Ford is taking full advantage of the suspense. In fact, Ford even has a short documentary prepared about the run its Mustang GTD took and a trailer has emerged.
The documentary in question is called Road to the ‘Ring, and will detail Ford’s move to get the Mustang to the famous racetrack. All of this suggests that it must have pulled off that under seven second run that it sought, otherwise it makes no sense for Ford to go through with this level of promotion.
Is Ford Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on four Buys, eight Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 4.75% rally in its share price over the past year, the average F price target of $11.29 implies 7.73% upside potential.
