Ford Motor (NYSE:) shares were trading around 2% higher after-hours following the company’s reported strong Q1 beat. The consensus estimate of $0.37 was the quarterly average EPS. Revenue came in at $34.5 Billion, which is around 2% higher than the consensus at $31.13B.

By the end 2023, 600K EVs will be in production.

Jim Farley CEO stated the Bronco, Bronco Sport and Maverick’s appeal is “undeniable.”

Company reiterated its 2022 adjusted EBIT guidance for $11.5-12.5 billion. This is up by 15% to 25% compared with a year ago.

Ford’s shares have fallen 29% in the past year.

By Davit Kirakosyan