• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

As AI slashes white-collar jobs, Salesforce CEO Marc Benioff says almost no one is being hired—except in sales

1

As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

As AI slashes white-collar jobs, Salesforce CEO Marc Benioff says almost no one is being hired—except in sales
PoliticsJoe Biden

Biden to preview Ford’s all-electric F-150, which he envisions as the future of the U.S.

By
Darlene Superville
Darlene Superville
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Darlene Superville
Darlene Superville
and
The Associated Press
The Associated Press
Down Arrow Button Icon
May 18, 2021, 1:04 PM ET

President Joe Biden is putting the spotlight Tuesday on the electric vehicle future he envisions for the United States, as a way to tackle climate change and create jobs.

Biden is touring Ford’s Electric Vehicle Center, a new factory being built on the grounds of the automaker’s massive Rouge complex in Dearborn, Michigan.

The president was visiting a day before Ford is expected to release details of an all-electric version of its F-150 pickup truck called the Lightning.

Biden has proposed a $2.3 trillion infrastructure plan that aims to help transform the automotive sector by making vehicles that don’t burn gasoline more mainstream. He also sees a shift toward electric vehicles as a major part of his plan to fight climate change.

Biden wants to pay for the infrastructure package by raising corporate taxes. Leading business groups and many Republicans oppose raising the corporate rate from 21% to 28%.

He also has to overcome a major hurdle before his electric vehicle zero emission future becomes reality: the lack of stations where people can plug in and juice up their engines.

To that end, Biden has proposed $174 billion for electric vehicles. That money includes rebates and incentives for consumer purchases, along with money to build 500,000 charging stations by 2030.

The widespread presence of charging stations would help to overcome drivers’ fears of being stranded in a powerless car, one of the challenges confronting Ford and General Motors as those companies seek to go electric.

The White House says the U.S. has just a fraction, about one-third, of the electric vehicle market share that China has, and far fewer public charging points—and needs to catch up before it can take the lead.

At Ford, its F-Series pickup—including heavy-duty versions—have been the top-selling vehicles in the U.S. for 39 straight years. Last year, the company sold more than 787,000 of the trucks, even though it had to close factories for eight weeks at the start of the coronavirus pandemic.

Ford sells about 900,000 F-Series pickups during a normal year.

The trucks are a huge cash cow for Ford. A study by the Boston Consulting Group found that the F-Series brings in $42 billion in U.S. revenue for the automaker. That’s more than whole companies such as McDonald’s, Nike and Netflix.

The F-150 Lightning electric truck, due in showrooms in the middle of next year, will come at a time when only a few in the U.S. have been willing to switch away from gasoline-powered vehicles.

Through April of this year, automakers have sold only 107,624 fully electric vehicles in the U.S. That’s almost double the number for the same time last year. Still, EVs account for only 2% of U.S. vehicle sales, according to Edmunds.com.

Ford announced it was building the electric vehicle center last year and said it would employ 500 people to build batteries and assemble the F-150 Lightning. The exterior of the plant is finished, with work under way on the interior.

Biden also has pushed the transition to electric vehicles as a way to create good-paying American union jobs for the next generation of transportation. Critics of his plan say that his taxes and the move away from fossil fuels would increase expenses for businesses and possibly cost jobs.

Studies have shown that each electric vehicle sold reduces emissions, although it takes a couple of years to reach that point if coal is used to generate the power used to charge the vehicles.

Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today.
About the Authors
By Darlene Superville
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Russia warns war costs are ravaging its finances while Ukrainian ‘drone overmatch’ sends Putin’s forces reeling in new phase of combat
PoliticsRussia
Russia warns war costs are ravaging its finances while Ukrainian ‘drone overmatch’ sends Putin’s forces reeling in new phase of combat
By Jason MaMay 29, 2026
10 hours ago
A Union Pacific freight train in Hutto, Texas.
PoliticsRailroads
Trump floated the idea of a 15% government stake in a massive railroad merger
By Jordan Blum and Alyson ShontellMay 29, 2026
10 hours ago
Mid adult real estate agent talking to couple at a house for sale
Real Estatehomebuying
Pandemic relief funds accidentally broke the housing market by helping scammers inflate local home prices nearly 6%, study finds
By Tristan BoveMay 29, 2026
11 hours ago
donald trump
EconomyImmigration
Immigration restrictions don’t boost native workers. They cut economic mobility for generations, study finds
By Jake AngeloMay 29, 2026
11 hours ago
whitmer
MPWElections
Gretchen Whitmer said she wasn’t running for president. That lasted until lunch
By Joey Cappelletti and The Associated PressMay 29, 2026
14 hours ago
dewine
North AmericaData centers
Ohio calls time on data-center tax break after cost balloons to $1.5 billion, 11x the initial estimate
By Marc Levy and The Associated PressMay 29, 2026
14 hours ago

Most Popular

As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens
Magazine
As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens
By Emma HinchliffeMay 27, 2026
3 days ago
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
9 days ago
As AI slashes white-collar jobs, Salesforce CEO Marc Benioff says almost no one is being hired—except in sales
Success
As AI slashes white-collar jobs, Salesforce CEO Marc Benioff says almost no one is being hired—except in sales
By Emma BurleighMay 28, 2026
2 days ago
Current price of oil as of May 28, 2026
Personal Finance
Current price of oil as of May 28, 2026
By Joseph HostetlerMay 28, 2026
2 days ago
UBS says Ron DeSantis has a problem with his plan to help 92% of homeowners save on property taxes: His own state's data
Personal Finance
UBS says Ron DeSantis has a problem with his plan to help 92% of homeowners save on property taxes: His own state's data
By Nick LichtenbergMay 28, 2026
1 day ago
Researchers let AI models run a simulated society. Claude was the safest—and Grok committed 180 crimes and went extinct within 4 days
AI
Researchers let AI models run a simulated society. Claude was the safest—and Grok committed 180 crimes and went extinct within 4 days
By Jake AngeloMay 28, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.