Ford sets sights on Tesla with Model 2 competitor on the cards

Ford Motor Company (NYSE:F) shares rose 6% in after-hours trading as the automaker surpassed Wall Street forecasts with its quarterly revenue and announced plans for a new, smaller EV to compete with Tesla's Model 2.  In its quarterlies, Ford highlighted its $2 billion cost reduction strategy for the year and declared a special dividend. CEO Jim Farley underscored Ford's strong positioning for growth in profit, and revenue, while flagging a strategic shift towards smaller EVs and cost efficiency to compete ...