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American Ford is ready to spend 11 billion US dollars on the development of electric vehicles

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American Ford is ready to spend 11 billion US dollars on the development of electric vehicles
January 15
09:00 2018

Ford Motor Co., a founding member of the world automotive industry, proves that it’s in deeds rather than in declarations that the company keeps up with the times.

Thus, the ambitious plans of the American auto concern to introduce an electric SUV Mach 1 to the market in two years have been announced to the public. The program on “electrification” of models of the Ford concern is planned to be implemented until 2022. The size of the investment is impressive! The amount of the projected investments will be about 11 billion US dollars.
The company’s management plans to produce electric vehicles at the new production facilities of the American automaker. At the moment, the plant is being built; it is located next to the city of Detroit in the United States.

Representatives of the auto giant Ford earlier were more modest in forecasts and plans. For example, it was planned to spend 4.5 billion US dollars on the production of electric versions of cars produced under the Ford brand. The funds were going to be used by 2020.

Three months ago, the company’s management announced that due to the reduction in costs for the production of cars with internal combustion engines, the corporation will save half a billion US dollars. These funds were also decided to be spent on the development of cars equipped with electric engines.

Approximately 7 billion of the planned 11 are planned to be invested in the development of SUVs and pickups, since these models are the most popular in the company’s assortment.
The news of the auto giant has already affected and will still affect the stock quotes of the company.

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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