The Michigan automaker’s stock closed down more than 18 per cent Thursday after it reported adjusted second-quarter earnings of US$0.47 per share, below the US$0.68 cents Wall Street analysts expected. On an earnings call, CEO Jim Farley defended the company’s “intensifying” turnaround plan, pointing to its Canada plant as an example that “has very high returns for many years to come.” (The Logic)

Talking point: The automaker’s decision to delay its EV manufacturing plans in Ontario in favour of heavy-duty trucks has raised questions about Canada’s EV ambitions. Farley’s comments on Thursday confirmed what my colleague Jesse previously reported: that its Super Duty trucks made in Ontario will have “diverse” and “multi-energy” powertrain options similar to the F-150, which is offered with several gas, EV and hybrid options. Super Duty will be key to Ford’s lucrative enterprise software-and-services business, Ford Pro, and will help meet growing demand for commercial vehicles like ambulances, Farley said.