Hey everybody, Rob Mauer here, and today we're going to be spending most of our time talking

about a couple of big announcements from Ford and Rivian, we've also got a couple of

Tesla specific pieces of news and a macro update.

Looking at the market's Tesla today, up 1.8% to $879.89 with the NASDAQ up 1.6%, both

recovering after a bit of a dip this morning as Fed Chairman Jerome Powell testified to

the joint economic committee, he continued to express interest in raising interest rates,

though likely at a quarter percentage point at a time, and he did of course note that

the situation with Russia and Ukraine is increasing economic uncertainty.

That could lower the trajectory of interest rate increases, but Powell did also say that

to the extent that inflation comes in higher than expected, the Fed would be prepared to

more aggressively increase interest rates and perhaps do that at more than 25 basis points

at a time.

That was somewhat mixed commentary overall, I think that's probably kind of what was expected

in the market shaking that off.

Alright, I want to start off today with a pretty significant update from Ford.

They have announced that they will be splitting up elements of their business into distinct

business units, and most interestingly, that will separate the internal combustion engine

vehicle from the electric vehicle business.

So Ford is calling this the Ford Plus Plan, the Ford Plus Plan primarily consists of the

Ford Model E, which don't confuse that's not a vehicle model, and the Ford Blue

business units.

So in simplest terms, Ford Model E, that will house the electric vehicles, Ford Blue,

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