Ford to invest $4.5bn in electrified vehicles

Ford has announced plans to invest $4.5 billion into the development of more electrified vehicles and technologies by 2020.

The investment was announced in the manufacturer’s 2015-16 Sustainability Report as part of its focus on the human impact of doing business.

Ford is currently America’s top seller of plug-in hybrid vehicles and has said that it plans to expand its research and development across Europe and Asia to widen its reach.

The $4.5 billion will reportedly go towards adding 13 new electrified vehicles to Ford’s portfolio, with the aim of making 40 per cent of its nameplates electrified products by 2020.

Additionally, Ford has said that it will spend $2.1 million on a new facility at the University of Michigan, which will focus on the research and development of advanced battery technology.

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