Ford is also going to the electric vehicle field and also joining the competition of electric vehicles in the future and beat other companies such as Gm, Volvo.
Ford Company is planning an additional investment of up to $20billion (which is around Rs.149,935 crore in Indian rupees) in building its electric vehicles, Bloomberg new report on Tuesday.
In brief, Ford will invest up to $10billion to $20billion will spread out over the next 5 to10 years and will include converting its present factories around the world to Electric Vehicles development from the report.
According to Ford, they will invest up to $30billion in the future, and Ford already has a plan to invest in an electric vehicle in the year 2025, the company already spent $7billion which is included in $30billion but does not count another $11.4billion investing with South Korea’s SK Innovation to make three battery factories and also have the plant of Ev truck in Tennessee and Kentucky.
The investment of EV is the part of Ford CEO Jim Farley’s Ford and turnaround plan that was announced in May.
According to a report, A recent push is being led by former Apple Inc. and Tesla executives, calling for ford to invest an additional $10billion to $20billion over the next five to 10years.
In the Bloomberg report – describe ford has revealed a small portion of its electric vehicle business that is part of a reorganization in an effort to catch value that investors have been awarding some EV start-ups.
Ford competitors are also available in the electric vehicle market place such as General Motors and Volvo car also frequently make their place in Ev Market and fight against electric car competitor Tesla.
Come to the Share of the ford- From the report- Ford shares increased by 2.7% during trading Tuesday afternoon.
FAQ
Q: Who is the founder of Ford founders?
Ans: Henry Ford is the founder of Ford Motors.
Q: Is Ford cars available in India?
Ans: Yes, Ford is available in India.
Q What is the cost of Electric Ford truck?
Ans: $39,974 to up to $95,000 price of Electric Ford truck.
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