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
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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.
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