Ford Motor Co has announced to invest 4.5 billion dollar in the electric vehicles sector and launch 13 new electric powered cars by 2020. According to the CEO, Mark Fields, this is the largest investment the company has made in electric cars, over the course of 5 years.
He further stated that Ford will introduce a new version of the Focus next year that will feature an electric powertrain and offer a phenomenal 100 miles range. Moreover, the DC fast charging facility will allow it to recharge in around 30 minutes. In the next 5 years, around 40% of the Ford vehicles will be electric powered.
Other automakers are also looking forward to provide better, cleaner and eco-friendly vehicles by ditching the traditional gasoline engines. General Motors has also invested around $2 billion in the electric vehicles sector in the last 6 years. In addition, Porsche is also planning to start the production of its Mission E project by 2020.