Ford to invest in electric vehicles and to expand by 2020 (Photo : Reuters)
Largest investment in electric vehicles including new car models and a pledge to spend billions for electric vehicles will be the next spot for Ford.
Ford chief executive Mark Fields said that the largest investment in electric vehicles, which will cover five years, Detroit Free Press reported.
There are also 13 new car models of electric vehicles to out by 2020, according to Ford, with a pledge of $4.5 billion for its spending, the report said.
Ford's electric vehicle project will be a combination of full battery-powered vehicles as well as plug-in hybrids, the report added.
According to Ford chief executive, this electric vehicle project is to meet the standards of fuel efficiency.
This electric vehicle project is also for the demand of the costumers calling for fuel efficiency.
Ford Focus is to out at the end of 2016 in North America and Europe and there will be plans for its update. This includes the improved 100-mile range. Moreover, the plans include 80% of its 30-minute charge, the report added.
Global product development head Raj Nair said that Ford will present electric vehicles with competitive range of time frame of five years.
In addition, Nair said that, in the future, "All platforms will be capable of both gasoline and electric vehicles."
Nair also said that the prices of gas would not help the electric vehicles, Bloomberg reported. Nair added that part of the effort is to inform and educate the buyers about the battery-electric vehicles and plug-in hybrids in particular and hybrids as well, the report added.
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