Ford to invest additional $4.5B in electric vehicles by 2020

Ford to invest additional $4.5B in electric vehicles by 2020

In an announcement made last week, bigwig automaker Ford said that it plans to invest an additional $4.5 billion in electric vehicles by the year 2020, and add 13 new electric-vehicle models to its product lineup.

Announcing the additional investment in electric vehicles in the next five years, Ford said that the investment will ensure that electrified vehicles comprise more than 40 percent of the company’s global models by the end of the decade.

According to the details shared by Ford about its electric-vehicle plans in the five-year period, the first electrified vehicle in the new range will be the new Focus Electric, which will be launched in the North America and Europe markets in late 2016.

Ford revealed that the new Focus Electric will have projected range of 100 miles; and it will take only 30 minutes to charge to 80 percent capacity. The vehicle will also come with customizable displays, so that drivers can see its power usage in real time.

Meanwhile, with regard to Ford’s electrified vehicle plans, Kevin Layden -- director of the company’s electrification programmes -- said batteries are the "life force" of any electric vehicle; and said that Ford will continue to focus on research and development in battery technology. Acknowledging the fact that battery technology has “evolved rapidly” in the past few years, Layden said: “We look forward to developing even better vehicle battery technology for our customers.”

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