You’ll normally find Ford CEO Jim Farley driving around in one of his company’s pickups or SUVs, but he’s spent a lot of time in recent months behind the wheel of a Xiaomi SU7 battery-electric vehicle.

Ford's boss says a new EV strategy will be revealed in August, with radical plans to improve their electric cars

Ford (NYSE:F) is clawing back some recent losses as investors reassess its solid Q2 results and the strategic shift of diverting funds from its unprofitable EV unit to its cash cow Ford Pro division.