Mar 20, 2019

Ford accelerates electric vehicle investment

Carmaker Ford is expanding production of all-electric vehicles after deciding that rapid growth in market meant it needed to accelerate its plans. Last year, Ford set out a long-term plan to invest about $11bn in new vehicle technologies. Mr Hinrichs told reporters: "When we were taking a look at our $11bn investment in electrification, it became obvious to us that we were going to need a second plant in the not-too-distant future to add capacity for our battery electric vehicles." Ford was already planning an all-electric sport utility vehicle in 2020 that will be built at its factory in Cuautitlan, Mexico. The recent Geneva Motor Show, which Ford did not attend, was dominated by the unveiling of new electric cars and concepts.

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