Ford to Invest $4.5 Billion in EVs, Plug-In Hybrids
DETROIT -- Ford Motor Co. plans to invest $4.5 billion on electrified-vehicle technology over the next five years and more than triple the number of global nameplates it offers as a plug-in or hybrid, despite weak sales of those vehicles today.
Ford CEO Mark Fields said the automaker would introduce 13 hybrid or electric cars by 2020, in addition to the six it offers today. Some would be versions of new or existing vehicles, while others would be offered only as electrified vehicles.
He and Raj Nair, Ford’s product development chief, said the plan is driven by customer needs as well as by government fuel-economy regulations...READ MORE
Source: Automotive News