There’s nothing like dropping a whole lot of money on something to prove that you’re serious about it, and Ford has just invested $4.5 billion into electric vehicle technology.
According to CEO Mark Fields, the goal is to expand the automaker’s electric vehicle portfolio by 2020, including 13 new electrified vehicles introducing at least some electric elements to 40% of Ford nameplates.
The $4.5 billion will go into researching traditional hybrids, plug-in hybrids, diesel fuel powertrains, battery-electric propulsion, and EcoBoost technology. In the short term, Fields stated that plug-in technology will be the focus of Ford’s strategy.
Later next year, Ford will launch an updated Focus Electric, which will come with a new DC fast-charge feature, allowing owners to charge the car to 80% capability (around 100 miles) in only 30 minutes, as opposed to two and a half hours.
We look forward to seeing this electric new lineup at Hometown Motors!