Ford Motor Co. has work to do convincing investors that its bet on self-driving cars and robo-taxis will pay off for shareholders now enduring a profit drop to go along with a stock-price slump.
First-quarter adjusted earnings fell by 42 percent, dragged down by a wager on battery-powered and autonomous autos. Chief Executive Officer Mark Fields acknowledged to analysts that Ford needs to better explain the opportunity for revenue and profit growth ahead. The carmaker plans to “paint a picture” of how the company views the future unfolding for self-driving vehicles and mobility services at an upcoming event for investors, Chief Financial Officer Bob Shanks said in an interview.
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