Ford to pump US$4.5b into electric vehicles
Adding 13 electric cars and hybrids by 2020 will take share of lineup to 40% from 13% now
Southfield, Michigan
FORD Motor Co says it is investing US$4.5 billion in electrified vehicles, responding to regulatory pressure with a bet on technologies that have struggled to attract buyers in the US as fuel prices stay low.
The carmaker will add 13 electric cars and hybrids by 2020, rising to 40 per cent of its lineup from 13 per cent now, CEO Mark Fields said on Thursday at a press conference in Dearborn, Michigan. The plans include a new Focus Electric car with fast-charge capability, Ford said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources