Ford to pump $450M into battery technology for electric carsPublished on January 25th, 2010 | By: firstname.lastname@example.org
Having just announced that they will be spending $550 million converting a Detroit SUV factory into a hybrid and electric vehicle factory, Ford Motors has announced a further investment of $450 million into electric cars and batteries.
Part of the money will be used to move lithium-ion battery production from its current location in Mexico to Michigan. Ford’s executive chairman, Bill Ford, said they were moving to address environmental, energy and economic issues.
Jennifer Granholm, the outgoing state governor, said that “vehicle electrification is part of our ongoing strategy to diversify Michigan´s economy and make the state a center for green and advanced manufacturing.”
The company has outlined plans to bring several vehicles to market over the next three years including the Ford Transit Connect electric commercial van, the Ford Focus electric passenger car and a hybrid based on the C-car platform.
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