Ford Announces $4.5 Billion Investment in Electric Vehicles
January 4th, 2017Via: Ars Technica:
Today at the Flat Rock Assembly Plant, Ford Motor Company CEO Mark Fields unveiled a large-scale electric vehicle initiative that will run through the company’s next five years. Ford plans to invest $4.5 billion in electric vehicle production by 2020, and the company said it will produce 13 new electric vehicles, including a Mustang, an F-150, police cars, and a Transit Custom van. Additionally, Fields revealed that Ford would be canceling a previously announced $1.6 billion-production facility in Mexico. Instead, the company wants to invest $700 million in the existing Flat Rock facility, generating 700 new jobs focused on EV and autonomous initiatives at that location, according to Ford.
“Electrified vehicles have driven millions of miles and saved consumers millions on costs in fuels,” Fields said. “Now, imagine electrifying a pick-up truck for more productivity—or a commercial van, a police car. That’s exactly what we’re doing.”
