Ford | EV
US: Ford to pump in $3.7 billion to boost EVs, gasoline-driven vehicle prodn
Michigan: Automaker Ford announced Thursday an investment of $3.7 billion in Ohio, Michigan, and Missouri for the production of both EVs and gasoline-driven vehicles, Reuters reported.
Ford officials said $2.3 billion of the total investment will be spent on EVs, part of the previously planned $50 billion investment for EV production through 2026.
In March, the Michigan based company had said it would increase spending on EV to $50 billion, up from $30 billion outlined previously.
Further, it also said that it would run its Internal Combustion Enterprises (ICE) and EV businesses as separate units in a move to compete with EV industry leader Tesla.
The company also said it plans to manufacture over 2 million EVs per year globally by the end of 2026.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
