The company's headline valuation is attractive, but investors need to appreciate the longer-term picture.Ford Motor Company (F +1.62%) stock is trading up more than 17% this year, but its performance somewhat obscures the fact that the company faces both challenges and opportunities that define its viability as an investment. They center around its electric vehicle (EV) strategy.How Ford makes moneyThe company has been largely unsuccessful in its EV aims so far. First, its Model e business remains heavily l ...