Ford Increments Investment on Electric Cars to US$11,000 Million

Published By : 15 Jan 2018 | Published By : QYRESEARCH

Just a couple of weeks ago, the Ford Motor Company had announced that they will be tagging along with the growing trend of green energy and to invest US$4,500 million over the course of next two years to harness the segment of electric cars.

Now, the president of the European region of the company, James Farley, has added new fuel, saying that Ford would be betting a much larger amount on electric vehicles (EVs), somewhere around US$11,000 million over the course of next four years. The President revealed an observation that consumers have recognized the dangers posed by greenhouse gases and are opting for products that are ethically good. Consequently, Ford has planned to make their most iconic models available in electric versions in the very near future.

Currently, the R&D team of the Ford Motor Company is developing 40 different hybrid or electric models, with the aim to starting commercial production by 2020.

The company has also noted that the U.S. automotive market gained impressive demand for trucks in 2017 and hence, at the Detroit Motor Show 2018, the company announce the rebirth of its Ranger model, whose production had stopped in 2011 but now returns modernized. It must be noted that the truck F-150 was Ford’s top selling model in 2017.

Other automotive giants, such as General Motors, Franco-Japanese Alliance of Renault, Nissan, and Mitsubishi, and Toyota have also announced hefty investment plans to harness the concept of electric vehicles while Tesla has already introduced its electric truck to eat into the global shares.

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