Ford’s energy rally revs up again on 5-year supply deal with EDF
Ford’s energy rally — which last week saw it log its best trading day since March 2020 and add about $10 billion in market cap before paring gains on Friday — appears to be kicking off again.
On Monday, the company’s energy business announced a five-year supply deal with a subsidiary of EDF.
Under the deal, Ford will provide EDF power solutions North America with up to 4 gigawatt-hours of battery energy storage systems per year for five years beginning in 2028.
Ford shares were up 6.8% in recent premarket trading on the announcement.
Both Tesla and GM operate similar energy storage businesses, giving the automakers some level of exposure to the AI data center trade. Last week, Morgan Stanley wrote that “there is a fairly high likelihood that Ford signs an [energy storage system] supply agreement with large commercial customers, and potentially hyperscalers, over the next few months.”
Under the deal, Ford will provide EDF power solutions North America with up to 4 gigawatt-hours of battery energy storage systems per year for five years beginning in 2028.
Ford shares were up 6.8% in recent premarket trading on the announcement.
Both Tesla and GM operate similar energy storage businesses, giving the automakers some level of exposure to the AI data center trade. Last week, Morgan Stanley wrote that “there is a fairly high likelihood that Ford signs an [energy storage system] supply agreement with large commercial customers, and potentially hyperscalers, over the next few months.”
