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Ford to invest USD $11 billion into electric cars

January 17, 2018 • General, Top Stories

Ford to invest $11 billion into electric cars

Ford to invest $11 billion into electric cars.

According to a report by BBC, American automobile manufacturers, Ford, has revealed that it will increase its investment in electric vehicles to $11bn (£8bn) in the next five years, by doing so the company will be more than doubling a previous commitment. The company is looking to have 40 hybrid and fully electric vehicles in its range by 2022, revealed Chairman Bill Ford at the Detroit Auto Show on 14 January 2018.

The latest move by Ford comes on the back of the mounting pressure on car makers to reduce carbon emissions in an attempt to combat global warming. The revelation came after other manufacturers in General Motors, Toyota and Volkswagen already revealed their ambitious electric vehicles plans.

Speaking at the Detroit Auto Show, Mr Ford said the focus would be on electrifying existing Ford models without naming any specific cars. He said the firm would offer 16 fully electric vehicles by 2022 and 24 plug-in hybrids.

Ford speaking at the Auto Show said, “We’re all in on this and we’re taking our mainstream vehicles, our most iconic vehicles, and we’re electrifying them.If we want to be successful with electrification, we have to do it with vehicles that are already popular.”

Edited by Dean Workman
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